Royal Bank of Canada Issues Positive Forecast for Fortive (NYSE:FTV) Stock Price

Fortive (NYSE:FTV) had its target price upped by research analysts at Royal Bank of Canada from $77.00 to $85.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 5.56% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Truist Financial increased their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group assumed coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price on the stock. Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. JPMorgan Chase & Co. lowered their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Barclays dropped their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.64.

Fortive Stock Up 1.8 %

Shares of FTV stock traded up $1.44 during trading on Monday, reaching $80.53. The company’s stock had a trading volume of 893,094 shares, compared to its average volume of 2,294,971. The company has a market capitalization of $27.94 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 2.14 and a beta of 1.15. 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 stock’s 50-day moving average price is $77.65 and its 200 day moving average price is $75.40.

Fortive (NYSE:FTV) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same quarter last year, the firm posted $0.98 EPS. On average, research analysts anticipate that Fortive will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FTV. Flossbach Von Storch SE lifted its stake in Fortive by 1.2% during the fourth quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company’s stock valued at $892,743,000 after purchasing an additional 137,479 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Fortive by 0.6% in the 3rd 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 during the period. Janus Henderson Group PLC lifted its stake in Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after buying an additional 977,428 shares in the last quarter. Mizuho Securities USA LLC raised its holdings in shares of Fortive by 14,635.7% during the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after acquiring an additional 3,972,855 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Fortive by 3.1% in the 3rd 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. 94.94% of the stock is currently owned by institutional investors.

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.