Fortive Co. Stock: Analysts Offer Insights Amid Insider Transactions
Let’s dive into the latest buzz around Fortive Co. (NYSE: FTV). According to Bloomberg, this company has caught the attention of ten brokerages, and their recommendations might pique your interest.
Out of these ten analysts, three suggest holding onto Fortive stock, while seven are all in for buying. Their collective wisdom culminates in a “Moderate Buy” recommendation. And they’ve got a target in mind: an average 12-month price of $78.00 for FTV shares.
But there’s more to the story. Recently, CEO Patrick K. Murphy and CFO Charles E. Mclaughlin made some moves with their Fortive shares. On July 28th, Murphy parted ways with 21,793 shares, each fetching $76.50, totaling $1,667,164.50. He’s still holding onto roughly 60,716 shares, estimated at $4,644,774. This juicy tidbit comes from an official filing with the Securities & Exchange Commission.
Not to be outdone, CFO Mclaughlin also sold some shares on the same day—16,911 of them to be exact. They went for an average of $76.66 per share, amounting to $1,296,397.26. Now, Mclaughlin holds 101,319 shares, valued at $7,767,114.54.
Hold on, though, because Murphy didn’t stop there. He made another sale, unloading 21,793 Fortive shares at an average price of $76.50. The grand total? A cool $1,667,164.0. After this round of transactions, Murphy’s stake stands at approximately 60,716 shares, with a value around $4,644,7.
Now, let’s talk insider action. Collectively, insiders have been selling 43,404 shares, racking up about $3,324,757 in the past quarter. That’s roughly 0.95% of Fortive’s total stock owned by those on the inside.
Shifting gears, Fortive reported its earnings on July 26th, revealing an earnings per share of $0.85 for the quarter. That’s $0.04 higher than what the experts expected, standing at $0.81. The company also flexed a net margin of 13.39% and a return on equity of 11.99%. What’s more, their quarterly revenue reached $1.53 billion, exceeding the anticipated $1.51 billion. In comparison to the same quarter last year, their revenue grew by 4.3%. Analysts on the sell-side are eyeing a full-year earnings per share estimate of $3.42 for Fortive.
In summary, Fortive Co.’s stock has been making waves, with analysts leaning towards a “Moderate Buy” sentiment. Insider trading activity has been noteworthy, and the latest earnings report showcases the company’s strength. As always, for savvy investors, thorough research remains key when making financial decisions based on these insights and reports.