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Christopher M. Mulhall, Vice President and Chief Accounting Officer at Fortive Corp (NYSE:FTV), recently sold shares of the company’s common stock valued at approximately $630,882. The transactions took place on February 26, 2025, with shares sold at prices ranging from $79.95 to $80.12. According to InvestingPro data, Fortive currently maintains a market capitalization of $27.08 billion and trades at a P/E ratio of 33.2, suggesting a premium valuation.
The sales included 6,493 shares sold at an average price of $79.95 and 1,395 shares at $80.12. Following these transactions, Mulhall directly owns 24,283 shares, while indirect holdings through his spouse amount to 5,815 shares. The company demonstrates impressive gross profit margins of nearly 60% and maintains a GOOD financial health score, as revealed by InvestingPro’s comprehensive analysis.
Additionally, on February 27, 2025, shares were withheld for tax purposes related to restricted stock units, totaling $43,222 at a price of $79.60. These transactions reflect Mulhall’s strategic management of his equity in Fortive, a company known for its industrial instruments and services. The stock has shown relatively low price volatility and operates with moderate debt levels, characteristics that InvestingPro subscribers can explore in detail through exclusive ProTips and comprehensive financial metrics.
In other recent news, Fortive Corporation reported its fourth-quarter results, revealing a revenue of $1.62 billion, slightly below the consensus estimate of $1.63 billion. Despite this, the company exceeded expectations with adjusted earnings per share of $1.17, surpassing the anticipated $1.12. Fortive’s guidance for 2025 projects revenue between $6.23 billion and $6.35 billion, which is below Wall Street’s forecast of $6.47 billion. The company also anticipates adjusted EPS for 2025 to range from $4.00 to $4.12, with the consensus estimate at $4.12.
Additionally, Fortive announced the appointment of Gregory J. Moore, M.D., Ph.D., to its Board of Directors, expanding the board from nine to ten members. This move is seen as a strategic step to enhance the company’s innovation and growth strategies, particularly in AI-powered solutions. In the realm of analyst updates, RBC Capital Markets raised Fortive’s stock price target from $77 to $85, maintaining a Sector Perform rating. Meanwhile, Raymond (NSE:RYMD) James increased its price target for the company from $85 to $90, retaining an Outperform rating. Both firms noted Fortive’s strong fourth-quarter performance and upcoming spin-off plans as positive indicators for the company’s future trajectory.
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