Fortive Corp to Post Q2 2019 Earnings of $0.88 Per Share, William Blair Forecasts (NYSE:FTV)

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Fortive Corp (NYSE:FTV) – Equities researchers at William Blair upped their Q2 2019 EPS estimates for Fortive in a research note issued on Monday, April 29th, Zacks Investment Research reports. William Blair analyst B. Drab now forecasts that the technology company will earn $0.88 per share for the quarter, up from their previous estimate of $0.87. William Blair currently has a “Market Perform” rating on the stock.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.69 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.69. Fortive had a net margin of 39.98% and a return on equity of 19.44%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $0.78 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis.

FTV has been the topic of several other reports. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Thursday, February 14th. TheStreet upgraded shares of Fortive from a “c” rating to a “b-” rating in a research report on Wednesday, January 30th. ValuEngine upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Morgan Stanley downgraded shares of Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price target on the stock. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Finally, Barclays increased their price target on shares of Fortive from $81.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $87.77.

FTV traded down $0.83 during trading on Thursday, hitting $80.52. The company’s stock had a trading volume of 1,335,000 shares, compared to its average volume of 1,442,552. The company has a current ratio of 2.20, a quick ratio of 1.97 and a debt-to-equity ratio of 0.69. Fortive has a one year low of $62.89 and a one year high of $89.48. The company has a market capitalization of $27.26 billion, a PE ratio of 26.31, a PEG ratio of 1.74 and a beta of 1.13.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.35%. Fortive’s payout ratio is 9.15%.

In other news, insider William W. Pringle sold 435 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $80.66, for a total transaction of $35,087.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 1,783 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $81.87, for a total transaction of $145,974.21. Following the sale, the senior vice president now owns 16,036 shares in the company, valued at $1,312,867.32. The disclosure for this sale can be found here. Insiders have sold a total of 38,600 shares of company stock worth $3,206,581 over the last 90 days. Insiders own 12.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new stake in Fortive in the 1st quarter valued at $25,000. Glassman Wealth Services increased its holdings in Fortive by 158.8% in the 1st quarter. Glassman Wealth Services now owns 308 shares of the technology company’s stock valued at $26,000 after acquiring an additional 189 shares during the last quarter. Cornerstone Advisors Inc. increased its holdings in Fortive by 104.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 309 shares of the technology company’s stock valued at $26,000 after acquiring an additional 158 shares during the last quarter. Baystate Wealth Management LLC increased its holdings in Fortive by 837.8% in the 4th quarter. Baystate Wealth Management LLC now owns 347 shares of the technology company’s stock valued at $25,000 after acquiring an additional 310 shares during the last quarter. Finally, Baldwin Brothers Inc. MA bought a new stake in Fortive in the 1st quarter valued at $29,000. Institutional investors own 84.70% of the company’s stock.

About Fortive

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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