Fortive (NYSE:FTV) Upgraded to Overweight by JPMorgan Chase & Co.

Fortive (NYSE:FTV) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a $92.00 price target on the technology company’s stock, up from their previous price target of $90.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 17.93% from the company’s current price.

FTV has been the topic of a number of other research reports. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a report on Thursday, September 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 price objective on shares of Fortive in a report on Friday, September 6th. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays increased their price objective on shares of Fortive from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.36.

Fortive Stock Up 1.0 %

Shares of NYSE:FTV opened at $78.01 on Thursday. The stock has a market capitalization of $27.33 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.12. Fortive has a 1-year low of $63.05 and a 1-year high of $87.10. The company’s fifty day moving average is $73.36 and its two-hundred day moving average is $75.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. Equities analysts anticipate that Fortive will post 3.82 EPS for the current year.

Insider Activity at Fortive

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners boosted its holdings in shares of Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after buying an additional 1,045,245 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Fortive by 47.1% in the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after buying an additional 1,999,792 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Fortive by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after buying an additional 205,893 shares during the period. Select Equity Group L.P. boosted its holdings in shares of Fortive by 6.8% in the second quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock worth $195,721,000 after buying an additional 168,368 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Fortive by 3.8% in the second quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock worth $190,099,000 after buying an additional 94,170 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.