Analysts Anticipate Fortive Corp (NYSE:FTV) Will Post Quarterly Sales of $1.92 Billion

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Analysts forecast that Fortive Corp (NYSE:FTV) will report sales of $1.92 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Fortive’s earnings, with estimates ranging from $1.84 billion to $1.96 billion. Fortive posted sales of $1.84 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.3%. The firm is scheduled to report its next earnings report on Thursday, October 24th.

On average, analysts expect that Fortive will report full year sales of $7.43 billion for the current fiscal year, with estimates ranging from $7.30 billion to $7.58 billion. For the next fiscal year, analysts expect that the firm will report sales of $7.92 billion, with estimates ranging from $7.78 billion to $8.07 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Fortive.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis.

Several brokerages have issued reports on FTV. Raymond James set a $84.00 target price on shares of Fortive and gave the stock an “outperform” rating in a research note on Friday, July 26th. Argus reaffirmed a “buy” rating on shares of Fortive in a research note on Tuesday, April 30th. Morgan Stanley cut shares of Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 target price on the stock. in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Berenberg Bank began coverage on shares of Fortive in a research note on Wednesday, May 15th. They set a “buy” rating and a $96.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $85.87.

FTV traded up $1.60 on Friday, hitting $68.93. 2,400,000 shares of the company’s stock were exchanged, compared to its average volume of 2,060,338. Fortive has a fifty-two week low of $62.89 and a fifty-two week high of $89.48. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $77.18 and a 200-day moving average price of $80.53. The stock has a market cap of $23.13 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 1.98 and a beta of 1.19.

In other news, SVP Stacey A. Walker sold 34,446 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the transaction, the senior vice president now owns 20,015 shares of the company’s stock, valued at approximately $1,415,060.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 12.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Artisan Partners Limited Partnership raised its holdings in Fortive by 16.1% in the 1st quarter. Artisan Partners Limited Partnership now owns 4,757,642 shares of the technology company’s stock valued at $399,119,000 after buying an additional 661,196 shares during the period. Northern Trust Corp raised its holdings in Fortive by 0.7% in the 2nd quarter. Northern Trust Corp now owns 4,346,853 shares of the technology company’s stock valued at $354,356,000 after buying an additional 28,760 shares during the period. Nuveen Asset Management LLC raised its holdings in Fortive by 23,241.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,906,599 shares of the technology company’s stock valued at $318,466,000 after buying an additional 3,889,862 shares during the period. Winslow Capital Management LLC raised its holdings in Fortive by 7.7% in the 2nd quarter. Winslow Capital Management LLC now owns 2,398,305 shares of the technology company’s stock valued at $195,509,000 after buying an additional 171,237 shares during the period. Finally, Schroder Investment Management Group raised its holdings in Fortive by 14.8% in the 2nd quarter. Schroder Investment Management Group now owns 2,232,096 shares of the technology company’s stock valued at $181,961,000 after buying an additional 287,449 shares during the period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

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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