1-Star Price
INVESTOR
5-Star Price
INVESTOR
Economic Moat
INVESTOR
Capital Allocation
INVESTOR
Narrow-moat Fortive posted solid third-quarter results, delivering a 20% year-over-year increase in adjusted EPS, to $0.79 from $0.66. We are maintaining our $85 fair value estimate, as nothing in the earnings release materially alters our long-term thesis. We view the stock as modestly undervalued, currently trading in 4-star territory.
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 $5.3 billion in revenue and $1.2 billion in adjusted operating income in 2021.
