Fortive (NYSE:FTV) Price Target Lowered to $90.00 at JPMorgan Chase & Co.

Fortive (NYSE:FTV) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $92.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 15.76% from the company’s previous close.

A number of other equities analysts have also recently commented on FTV. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $92.00 to $86.00 in a report on Monday, December 9th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Argus restated a “hold” rating on shares of Fortive in a report on Monday, November 18th. UBS Group started coverage on shares of Fortive in a research note on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective on the stock. Finally, Truist Financial boosted their price target on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Fortive currently has an average rating of “Moderate Buy” and an average price target of $86.45.

Fortive Stock Performance

Shares of NYSE FTV opened at $77.75 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 1 year low of $66.15 and a 1 year high of $87.10. The firm has a fifty day moving average price of $76.44 and a 200-day moving average price of $74.71. The stock has a market cap of $26.98 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the company earned $0.85 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that Fortive will post 3.85 earnings per share for the current fiscal year.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction that occurred 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. The trade was a 9.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Fortive

A number of hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in shares of Fortive in the 3rd quarter worth $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Fortive in the second quarter worth approximately $31,000. Pinnacle Bancorp Inc. increased its position in Fortive by 71.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 176 shares during the last quarter. Versant Capital Management Inc increased 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 purchasing an additional 297 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Fortive during the 3rd quarter valued at about $41,000. 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.