Fortive (NYSE:FTV) Now Covered by UBS Group

Stock analysts at UBS Group started coverage on shares of Fortive (NYSE:FTV) in a research note issued on Wednesday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $84.00 price target on the technology company’s stock. UBS Group’s target price suggests a potential upside of 11.08% from the stock’s current price.

FTV has been the subject of several other research reports. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a report on Thursday, September 5th. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $90.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Royal Bank of Canada dropped their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Finally, Truist Financial decreased their price objective on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.82.

Fortive Price Performance

NYSE FTV opened at $75.62 on Wednesday. The company has a 50-day moving average price of $75.39 and a 200-day moving average price of $74.18. Fortive has a 52 week low of $66.15 and a 52 week high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $26.24 billion, a P/E ratio of 30.13, a PEG ratio of 2.06 and a beta of 1.13.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 earnings per share. Equities research analysts anticipate that Fortive will post 3.85 earnings per share for the current year.

Insider Activity at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction on 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 sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This represents a 17.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,895 shares of company stock valued at $14,261,051. Insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Fortive

Several institutional investors have recently modified their holdings of the stock. Boston Partners lifted its holdings in shares of Fortive by 19.3% in the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after acquiring an additional 1,045,245 shares during the last quarter. Janus Henderson Group PLC raised its position in Fortive by 47.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after purchasing an additional 1,999,792 shares during the period. Mizuho Securities USA LLC lifted its stake in Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after purchasing an additional 3,972,855 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Fortive by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock valued at $271,851,000 after buying an additional 103,530 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Fortive by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock valued at $197,726,000 after buying an additional 205,893 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Fortive Company Profile

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.