Zacks: Analysts Anticipate Fortive Co. (NYSE:FTV) Will Post Quarterly Sales of $1.43 Billion

Analysts expect that Fortive Co. (NYSE:FTV) will report sales of $1.43 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Fortive’s earnings. The highest sales estimate is $1.44 billion and the lowest is $1.42 billion. Fortive reported sales of $1.32 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8.3%. The firm is scheduled to announce its next earnings report on Thursday, February 3rd.

On average, analysts expect that Fortive will report full year sales of $5.31 billion for the current fiscal year, with estimates ranging from $5.30 billion to $5.32 billion. For the next fiscal year, analysts anticipate that the business will post sales of $5.67 billion, with estimates ranging from $5.63 billion to $5.71 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Fortive.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, October 28th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Fortive had a net margin of 31.85% and a return on equity of 10.53%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share.

A number of analysts recently weighed in on FTV shares. Royal Bank of Canada raised their target price on shares of Fortive from $75.00 to $77.00 and gave the stock a “sector perform” rating in a report on Friday, October 29th. Morgan Stanley upped their price target on shares of Fortive from $78.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 29th. Wells Fargo & Company assumed coverage on shares of Fortive in a research report on Thursday, October 7th. They issued an “equal weight” rating and a $72.00 price target for the company. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Tuesday, September 21st. Finally, Loop Capital assumed coverage on shares of Fortive in a research report on Monday. They issued a “buy” rating and a $90.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Fortive has an average rating of “Buy” and an average target price of $80.00.

In other news, SVP Peter C. Underwood sold 6,575 shares of the firm’s stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $76.99, for a total transaction of $506,209.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in FTV. Flossbach Von Storch AG raised its stake in shares of Fortive by 59.4% in the second quarter. Flossbach Von Storch AG now owns 9,130,156 shares of the technology company’s stock worth $636,737,000 after acquiring an additional 3,403,593 shares during the last quarter. Balyasny Asset Management LLC bought a new position in shares of Fortive in the second quarter worth about $153,531,000. Findlay Park Partners LLP grew its position in shares of Fortive by 110.7% during the 3rd quarter. Findlay Park Partners LLP now owns 3,788,749 shares of the technology company’s stock worth $267,372,000 after buying an additional 1,990,922 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Fortive by 31.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,192,282 shares of the technology company’s stock worth $436,989,000 after buying an additional 1,475,443 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Fortive by 84.8% during the 3rd quarter. Mackenzie Financial Corp now owns 2,432,395 shares of the technology company’s stock worth $171,654,000 after buying an additional 1,116,022 shares during the period. 90.53% of the stock is owned by hedge funds and other institutional investors.

NYSE:FTV traded down $0.27 during trading hours on Thursday, reaching $78.03. 1,820,306 shares of the company’s stock were exchanged, compared to its average volume of 2,351,244. The company has a market capitalization of $27.98 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 19.28 and a beta of 1.15. Fortive has a 12 month low of $64.58 and a 12 month high of $79.87. The company has a quick ratio of 0.67, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The business’s 50-day simple moving average is $74.73 and its two-hundred day simple moving average is $72.92.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 30th. Stockholders of record on Friday, November 26th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Wednesday, November 24th. Fortive’s payout ratio is 6.17%.

About Fortive

Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.

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