Fortive (NYSE:FTV) Price Target Lowered to $90.00 at Barclays

Fortive (NYSE:FTV) had its price objective cut by Barclays from $95.00 to $90.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities analysts have also recently commented on the stock. StockNews.com cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Royal Bank of Canada decreased their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company raised their price objective on Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Argus reissued a “hold” rating on shares of Fortive in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and raised their price target for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.64.

Fortive Trading Up 0.2 %

NYSE FTV opened at $76.80 on Wednesday. The company has a 50-day moving average of $76.04 and a 200-day moving average of $74.62. The company has a market cap of $26.65 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.11 and a beta of 1.14. Fortive has a 12 month low of $66.15 and a 12 month high of $87.10. 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 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. As a group, equities analysts predict that Fortive will post 3.85 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were given a dividend of $0.08 per share. The ex-dividend date 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 (DPR) is currently 12.75%.

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the 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 directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 48,346 shares in the company, valued at $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fortive

Large investors have recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in shares of Fortive in the 3rd quarter valued at $25,000. Goodman Advisory Group LLC acquired a new stake in shares of Fortive during the second quarter valued at about $31,000. Pinnacle Bancorp Inc. increased its position in shares of Fortive by 71.0% during the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after acquiring an additional 176 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Fortive by 186.8% in the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Fortive during the 2nd quarter worth approximately $35,000. Institutional investors own 94.94% of the company’s stock.

About Fortive

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.