Fortive Co. (NYSE:FTV) Receives $86.82 Consensus PT from Brokerages

Shares of Fortive Co. (NYSE:FTV) have been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $86.82.

Several equities research analysts have recently issued reports on the stock. 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 report on Thursday, October 10th. Morgan Stanley assumed coverage on shares of Fortive in a research note on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective for the company. Barclays cut their target price on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Truist Financial raised their price target on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company cut their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st.

Fortive Trading Down 0.2 %

Shares of FTV stock opened at $75.65 on Wednesday. The company has a market cap of $26.25 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10. The stock’s 50 day simple moving average is $75.94 and its two-hundred day simple moving average is $74.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

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

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s dividend payout ratio is presently 12.75%.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Fortive

Institutional investors have recently made changes to their positions in the business. Mizuho Securities USA LLC raised its holdings in shares of 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 buying an additional 3,972,855 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Fortive by 1,005.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock valued at $152,899,000 after purchasing an additional 1,761,983 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after purchasing an additional 977,428 shares during the period. Holocene Advisors LP raised its stake in shares of Fortive by 1,014.1% in the third quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock worth $72,984,000 after purchasing an additional 841,671 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Fortive by 59.3% in the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock valued at $107,271,000 after buying an additional 505,882 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.