Fortive (NYSE:FTV) Price Target Cut to $89.00 by Analysts at Truist Financial

Fortive (NYSE:FTV) had its price target lowered by research analysts at Truist Financial from $96.00 to $89.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price would suggest a potential upside of 23.44% from the stock’s current price.

Several other analysts also recently weighed in on FTV. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Citigroup reduced their price objective on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada reduced their price objective on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, April 25th. Finally, Barclays boosted their price objective on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.69.

Fortive Trading Down 2.7 %

Shares of FTV stock opened at $72.10 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. The stock has a market capitalization of $25.38 billion, a P/E ratio of 28.50, a price-to-earnings-growth ratio of 2.17 and a beta of 1.12. The company has a 50 day moving average price of $75.20 and a 200 day moving average price of $78.21. Fortive has a fifty-two week low of $63.05 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Equities research analysts predict that Fortive will post 3.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Fortive

Several institutional investors have recently bought and sold shares of FTV. Norges Bank acquired a new position in Fortive in the 4th quarter valued at $268,686,000. Janus Henderson Group PLC increased its stake 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 valued at $537,119,000 after buying an additional 1,999,792 shares during the period. Boston Partners increased its stake in Fortive by 19.3% in the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after buying an additional 1,045,245 shares during the period. Brown Advisory Inc. increased its stake in Fortive by 13.1% in the 4th quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock valued at $557,929,000 after buying an additional 878,523 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in Fortive by 15,382.4% in the 4th quarter. Panagora Asset Management Inc. now owns 634,778 shares of the technology company’s stock valued at $46,739,000 after buying an additional 630,678 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

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.