Fortive Co. (NYSE:FTV) Receives $86.45 Average PT from Analysts

Shares of Fortive Co. (NYSE:FTV) have received an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $86.45.

FTV has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Argus reiterated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. decreased their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, Truist Financial upped their price target on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th.

Fortive Trading Up 0.1 %

Shares of Fortive stock opened at $80.27 on Friday. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10. The firm has a market cap of $27.85 billion, a PE ratio of 31.98, a PEG ratio of 2.17 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The company has a 50 day simple moving average of $76.94 and a two-hundred day simple moving average of $74.98.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Analysts expect that Fortive will post 3.84 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.40%. Fortive’s payout ratio is 12.75%.

Insider Activity

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction on 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 sale, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $382,900.00. Following the completion of the sale, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. The trade was 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

Several institutional investors have recently made changes to their positions in FTV. Geode Capital Management LLC boosted its position in Fortive by 0.6% during the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock valued at $644,346,000 after purchasing an additional 46,704 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after purchasing an additional 977,428 shares during the last quarter. Mizuho Securities USA LLC raised its stake in shares of Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after purchasing an additional 3,972,855 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Fortive by 3.1% during 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 acquiring an additional 103,530 shares in the last quarter. Finally, Select Equity Group L.P. raised its position in Fortive by 6.8% during the second quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock valued at $195,721,000 after acquiring an additional 168,368 shares in the last quarter. Hedge funds and other 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.