Fortive Corporation (NYSE:FTV) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $69.10.
A number of research analysts have commented on the stock. SunTrust Banks, Inc. reissued a “buy” rating and set a $81.00 target price on shares of Fortive Corporation in a research report on Friday, October 27th. Citigroup Inc. raised their target price on shares of Fortive Corporation from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Stifel Nicolaus raised their target price on shares of Fortive Corporation from $62.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Royal Bank Of Canada reissued a “hold” rating and set a $70.00 target price on shares of Fortive Corporation in a research report on Wednesday, October 11th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $72.00 target price (up previously from $71.00) on shares of Fortive Corporation in a research report on Monday, October 2nd.
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In other news, CFO Charles E. Mclaughlin sold 6,565 shares of Fortive Corporation stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 4,775 shares of Fortive Corporation stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,340 shares of company stock worth $4,437,021. Insiders own 12.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its stake in Fortive Corporation by 3.8% in the 3rd quarter. Wells Fargo & Company MN now owns 2,206,402 shares of the technology company’s stock worth $156,191,000 after purchasing an additional 80,482 shares in the last quarter. Zeke Capital Advisors LLC acquired a new stake in Fortive Corporation in the 3rd quarter worth approximately $236,000. Amalgamated Bank boosted its stake in Fortive Corporation by 2.0% in the 3rd quarter. Amalgamated Bank now owns 36,808 shares of the technology company’s stock worth $2,606,000 after purchasing an additional 719 shares in the last quarter. Cadence Capital Management LLC acquired a new stake in Fortive Corporation in the 3rd quarter worth approximately $588,000. Finally, Dai Ichi Life Insurance Company Ltd boosted its stake in Fortive Corporation by 3.7% in the 3rd quarter. Dai Ichi Life Insurance Company Ltd now owns 32,530 shares of the technology company’s stock worth $2,303,000 after purchasing an additional 1,166 shares in the last quarter. Institutional investors own 79.02% of the company’s stock.
Fortive Corporation (NYSE:FTV) traded up $0.02 during midday trading on Friday, reaching $72.65. 1,825,200 shares of the company’s stock were exchanged, compared to its average volume of 1,229,408. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06. The stock has a market cap of $25,250.16, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37. Fortive Corporation has a 1-year low of $52.99 and a 1-year high of $74.38.
Fortive Corporation (NYSE:FTV) last posted its earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.66 billion. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. equities research analysts expect that Fortive Corporation will post 2.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive Corporation’s payout ratio is currently 10.57%.
Fortive Corporation Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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