JPMorgan Chase & Co. Has Lowered Expectations for Fortive (NYSE:FTV) Stock Price

Fortive (NYSE:FTV) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $92.00 to $90.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.44% from the company’s previous close.

Several other research firms have also recently issued reports on FTV. Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. UBS Group started coverage on Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target on the stock. Royal Bank of Canada cut their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Barclays lowered their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company upped their price target on shares of Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.45.

Fortive Stock Up 1.0 %

FTV opened at $78.64 on Wednesday. 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 has a 12 month low of $66.15 and a 12 month high of $87.10. The stock’s 50 day moving average price is $76.52 and its 200 day moving average price is $74.73. The stock has a market cap of $27.28 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.92 and a beta of 1.14.

Fortive (NYSE:FTV) last issued its quarterly earnings data 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. The business had revenue of $1.53 billion for 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 company’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, research analysts predict that Fortive will post 3.84 earnings per share for the current year.

Insider Buying and Selling at Fortive

In related news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the transaction, the senior vice president now owns 42,651 shares in the company, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Fortive by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock valued at $644,346,000 after buying an additional 46,704 shares during the last quarter. Janus Henderson Group PLC lifted its stake in 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 acquiring an additional 977,428 shares during the last quarter. Mizuho Securities USA LLC grew its position 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 acquiring an additional 3,972,855 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Fortive by 3.1% during the 3rd 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 worth $271,851,000 after purchasing an additional 103,530 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Fortive by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock valued at $197,726,000 after purchasing an additional 205,893 shares in the last quarter. Hedge funds and other institutional investors 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.