Fortive (NYSE:FTV – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.770-3.860 for the period, compared to the consensus earnings per share estimate of 3.800. The company issued revenue guidance of $6.4 billion-$6.4 billion, compared to the consensus revenue estimate of $6.5 billion. Fortive also updated its FY24 guidance to $3.77-3.86 EPS.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on FTV shares. Truist Financial began coverage on shares of Fortive in a research report on Thursday, March 14th. They issued a buy rating and a $99.00 price objective for the company. Wells Fargo & Company increased their target price on Fortive from $79.00 to $85.00 and gave the stock an equal weight rating in a research report on Thursday, February 1st. Vertical Research cut Fortive from a buy rating to a hold rating in a report on Tuesday, January 2nd. Citigroup increased their price objective on shares of Fortive from $90.00 to $101.00 and gave the stock a buy rating in a report on Monday, April 8th. Finally, Barclays raised their target price on shares of Fortive from $89.00 to $97.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $86.54.
Read Our Latest Stock Report on Fortive
Fortive Stock Up 0.5 %
Fortive (NYSE:FTV – Get Free Report) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. Equities research analysts forecast that Fortive will post 3.78 earnings per share for the current fiscal year.
Fortive Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. Fortive’s dividend payout ratio (DPR) is presently 13.11%.
Insider Buying and Selling
In other news, CEO Tamara S. Newcombe sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now directly owns 55,017 shares in the company, valued at $4,676,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Tamara S. Newcombe sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now owns 55,017 shares of the company’s stock, valued at $4,676,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction on Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the sale, the chief accounting officer now owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The disclosure for this sale can be found here. Insiders have sold 63,937 shares of company stock valued at $5,475,122 in the last quarter. Company insiders own 0.95% of the company’s stock.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.
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