Barclays Has Lowered Expectations for Fortive (NYSE:FTV) Stock Price

Fortive (NYSE:FTV) had its price target dropped by stock analysts at Barclays from $95.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective points to a potential upside of 17.19% from the company’s current price.

Several other research firms have also weighed in on FTV. Argus reaffirmed a “hold” rating on shares of Fortive in a report on Monday, November 18th. UBS Group assumed coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target for the company. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Wells Fargo & Company boosted their target price on shares of Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and a consensus target price of $86.64.

Fortive Trading Up 0.2 %

Shares of FTV opened at $76.80 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $26.65 billion, a PE ratio of 30.60, a PEG ratio of 2.11 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 has a 50 day simple moving average of $76.14 and a 200-day simple moving average of $74.64.

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

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value 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. The trade was a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Fortive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTV. Geode Capital Management LLC grew its holdings in shares of Fortive by 0.6% during the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock worth $644,346,000 after buying an additional 46,704 shares in the last quarter. Janus Henderson Group PLC boosted its position in Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after acquiring an additional 977,428 shares during the last quarter. Mizuho Securities USA LLC grew its stake in shares of Fortive by 14,635.7% during the 3rd 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 raised its holdings in shares of Fortive by 3.1% in the third 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 valued at $271,851,000 after purchasing an additional 103,530 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Fortive by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after purchasing an additional 205,893 shares in the last quarter. 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.