Fortive (NYSE:FTV) PT Raised to $98.00

Fortive (NYSE:FTV) had its price objective upped by Barclays from $96.00 to $98.00 in a research report report published on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Several other equities research analysts also recently issued reports on the company. Raymond James raised Fortive from a market perform rating to an outperform rating and set a $85.00 price target for the company in a report on Thursday, September 5th. Morgan Stanley began coverage on Fortive in a report on Friday, September 6th. They set an overweight rating and a $89.00 price target for the company. Royal Bank of Canada reaffirmed a sector perform rating and set a $77.00 price target on shares of Fortive in a report on Friday, September 6th. Truist Financial cut their price target on Fortive from $89.00 to $82.00 and set a buy rating for the company in a report on Thursday, July 25th. Finally, Wells Fargo & Company dropped their target price on Fortive from $84.00 to $75.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $86.54.

Fortive Price Performance

NYSE:FTV opened at $76.90 on Wednesday. Fortive has a 1-year low of $63.05 and a 1-year high of $87.10. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $72.92 and a 200 day simple moving average of $75.70. The stock has a market capitalization of $27.07 billion, a PE ratio of 30.40, a P/E/G ratio of 2.22 and a beta of 1.12.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm posted $0.85 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, research analysts expect that Fortive will post 3.82 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Insider Activity at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. 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 at this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Indiana Trust & Investment Management CO bought a new position in Fortive in the first quarter valued at about $26,000. Advisors Asset Management Inc. bought a new position in Fortive in the first quarter valued at about $32,000. Ridgewood Investments LLC bought a new position in Fortive in the second quarter valued at about $30,000. International Assets Investment Management LLC bought a new position in Fortive in the second quarter valued at about $30,000. Finally, Goodman Advisory Group LLC bought a new position in Fortive in the second quarter valued at about $31,000. 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.