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Fortive Corp FTV

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Morningstar’s Analysis

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Fortive Posts Solid First-Quarter Results and Raises Full-Year 2021 Guidance; Increasing FVE

Analyst Note

| Krzysztof Smalec, CFA |

We are raising our fair value estimate for narrow-moat rated Fortive to $79 from $75 after the company reported solid first-quarter results and raised its guidance for full-year 2021. The cash compounder’s revenue of $1,259 million and adjusted EPS of $0.63 both surpassed FactSet consensus estimates ($1,224 million and $0.60, respectively). Our fair value increase reflects the firm’s strong execution, raised guidance, and time value of money.

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Company Profile

Business Description

Fortive is a diversified industrial technology firm with a broad portfolio of mission-critical products and services that include field solutions, product realization, health, and sensing technologies. The company serves a wide range of end markets, including manufacturing, utilities, medical, and electronics. Fortive generated roughly $4.6 billion in revenue and $976 million in adjusted operating income in 2020.

6920 Seaway Boulevard
Everett, WA, 98203
T +1 425 446-5000
Sector Technology
Industry Scientific & Technical Instruments
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Slow Growth
Employees 17,000