Equities analysts predict that Fortive Co. (NYSE:FTV) will post $1.22 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Fortive’s earnings, with estimates ranging from $1.22 billion to $1.23 billion. Fortive posted sales of $1.71 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 28.7%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, April 29th.
On average, analysts expect that Fortive will report full-year sales of $5.04 billion for the current year, with estimates ranging from $5.03 billion to $5.08 billion. For the next year, analysts forecast that the firm will report sales of $5.30 billion, with estimates ranging from $5.27 billion to $5.33 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Fortive.
Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, February 3rd. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. Fortive had a return on equity of 16.30% and a net margin of 8.21%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion.
In other news, SVP William W. Pringle sold 65,185 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $68.62, for a total value of $4,472,994.70. Following the transaction, the senior vice president now owns 153,860 shares in the company, valued at $10,557,873.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 14,322 shares of the firm’s stock in a transaction that occurred on Monday, February 22nd. The shares were sold at an average price of $67.16, for a total value of $961,865.52. The disclosure for this sale can be found here. Insiders sold 84,071 shares of company stock worth $5,739,984 in the last 90 days. Corporate insiders own 12.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC purchased a new stake in shares of Fortive during the fourth quarter valued at approximately $25,000. Addison Advisors LLC purchased a new stake in shares of Fortive during the fourth quarter valued at approximately $26,000. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Fortive during the fourth quarter valued at approximately $35,000. Vectors Research Management LLC purchased a new stake in Fortive in the fourth quarter worth $43,000. Finally, Exane Derivatives purchased a new stake in Fortive in the fourth quarter worth $46,000. 84.71% of the stock is owned by institutional investors.
Shares of Fortive stock traded up $0.71 on Monday, hitting $70.96. 2,996,672 shares of the company’s stock traded hands, compared to its average volume of 2,316,612. Fortive has a one year low of $52.46 and a one year high of $82.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.24 and a quick ratio of 1.02. The company has a fifty day moving average of $68.57 and a two-hundred day moving average of $69.48. The company has a market capitalization of $23.99 billion, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 5.13 and a beta of 1.14.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 25th. Stockholders of record on Friday, May 28th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, May 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. Fortive’s dividend payout ratio is presently 8.05%.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.
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