Equities analysts expect Fortive Corp (NYSE:FTV) to report $0.69 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Fortive Corp’s earnings. The highest EPS estimate is $0.69 and the lowest is $0.68. Fortive Corp reported earnings of $0.63 per share in the same quarter last year, which indicates a positive year over year growth rate of 9.5%. The firm is expected to announce its next earnings report on Tuesday, August 1st.
On average, analysts expect that Fortive Corp will report full year earnings of $2.75 per share for the current financial year, with EPS estimates ranging from $2.68 to $2.78. For the next year, analysts expect that the company will report earnings of $2.96 per share, with EPS estimates ranging from $2.88 to $3.07. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Fortive Corp.
Fortive Corp (NYSE:FTV) last posted its earnings results on Thursday, April 27th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Fortive Corp’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share.
Several equities research analysts recently issued reports on the company. Barclays PLC set a $66.00 price objective on Fortive Corp and gave the stock a “buy” rating in a report on Sunday, April 30th. William Blair reiterated a “market perform” rating on shares of Fortive Corp in a report on Tuesday, February 7th. SunTrust Banks, Inc. upgraded Fortive Corp from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Wednesday, March 29th. Cowen and Company lifted their price objective on Fortive Corp from $46.00 to $52.00 and gave the stock a “market perform” rating in a report on Wednesday, April 19th. Finally, Royal Bank of Canada assumed coverage on Fortive Corp in a report on Thursday, March 23rd. They issued a “sector perform” rating and a $63.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $59.14.
In other Fortive Corp news, insider James A. Lico sold 131,994 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $62.34, for a total value of $8,228,505.96. Following the transaction, the insider now directly owns 191,101 shares of the company’s stock, valued at approximately $11,913,236.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC acquired a new position in Fortive Corp during the first quarter worth $102,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in Fortive Corp by 20.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,800 shares of the technology company’s stock worth $108,000 after buying an additional 300 shares during the period. Quadrant Capital Group LLC raised its position in Fortive Corp by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock worth $112,000 after buying an additional 7 shares during the period. Israel Discount Bank of New York GFN acquired a new position in Fortive Corp during the fourth quarter worth $124,000. Finally, First Personal Financial Services raised its position in Fortive Corp by 17.3% in the first quarter. First Personal Financial Services now owns 2,372 shares of the technology company’s stock worth $142,000 after buying an additional 350 shares during the period. 77.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fortive Corp (NYSE:FTV) opened at 61.84 on Monday. The stock has a market capitalization of $21.43 billion and a P/E ratio of 24.26. The company has a 50 day moving average price of $61.49 and a 200-day moving average price of $57.13. Fortive Corp has a 52-week low of $43.00 and a 52-week high of $64.27.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, May 26th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Wednesday, May 24th.
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Fortive Corp Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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