Analysts Set Fortive Co. (NYSE:FTV) Target Price at $88.20

Shares of Fortive Co. (NYSE:FTV) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $88.20.

A number of research analysts recently issued reports on the stock. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Wells Fargo & Company decreased their price objective on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. 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 note on Friday, November 1st. 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 research note on Thursday, September 5th. Finally, Royal Bank of Canada decreased their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st.

Insider Activity

In other news, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the sale, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,895 shares of company stock worth $13,878,151 over the last quarter. 1.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in Fortive in the third quarter worth $25,000. Advisors Asset Management Inc. purchased a new position in Fortive in the first quarter worth $32,000. Ridgewood Investments LLC purchased a new position in Fortive in the second quarter worth $30,000. International Assets Investment Management LLC purchased a new position in Fortive in the second quarter worth $30,000. Finally, Goodman Advisory Group LLC purchased a new position in Fortive in the second quarter worth $31,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Down 0.4 %

Shares of FTV stock opened at $74.01 on Tuesday. The firm has a 50 day moving average price of $75.20 and a two-hundred day moving average price of $74.27. 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 company has a market capitalization of $25.68 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. Fortive has a 12-month low of $64.88 and a 12-month high of $87.10.

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

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

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.