Barclays Cuts Fortive (NYSE:FTV) Price Target to $85.00

Fortive (NYSE:FTV) had its price objective reduced by Barclays from $90.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target suggests a potential upside of 11.74% from the company’s previous close.

Several other equities research analysts also recently weighed in on FTV. Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company increased their price target on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Finally, StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.18.

Fortive Stock Performance

NYSE:FTV opened at $76.07 on Wednesday. Fortive has a twelve month low of $66.15 and a twelve month high of $86.21. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $78.62 and its 200 day simple moving average is $76.96. The firm has a market capitalization of $25.89 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the prior year, the company posted $0.98 EPS. On average, analysts anticipate that Fortive will post 4.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortive news, CAO Christopher M. Mulhall sold 6,493 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total value of $519,115.35. Following the transaction, the chief accounting officer now owns 24,283 shares of the company’s stock, valued at approximately $1,941,425.85. The trade was a 21.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 3,002 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $79.05, for a total value of $237,308.10. Following the sale, the senior vice president now directly owns 42,373 shares of the company’s stock, valued at approximately $3,349,585.65. This represents a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,385 shares of company stock worth $19,508,529. 1.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Fortive

Institutional investors have recently added to or reduced their stakes in the stock. Parvin Asset Management LLC purchased a new stake in shares of Fortive during the 4th quarter worth approximately $26,000. Park Square Financial Group LLC bought a new stake in shares of Fortive in the fourth quarter valued at $30,000. Whipplewood Advisors LLC purchased a new position in shares of Fortive during the 4th quarter valued at $31,000. Versant Capital Management Inc grew its stake in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after acquiring an additional 297 shares during the period. Finally, Crews Bank & Trust purchased a new stake in Fortive in the 4th quarter worth about $37,000. 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.