Fortive (NYSE:FTV) Earns Neutral Rating from Analysts at Rosenblatt Securities

Rosenblatt Securities initiated coverage on shares of Fortive (NYSE:FTV) in a research note issued to investors on Thursday morning, The Fly reports. The firm issued a neutral rating and a $77.00 price target on the technology company’s stock.

Several other analysts have also recently commented on the stock. Morgan Stanley dropped their target price on shares of Fortive from $85.00 to $70.00 and set an equal weight rating for the company in a research report on Friday, October 11th. Zacks Investment Research raised shares of Fortive from a sell rating to a hold rating and set a $72.00 price target for the company in a report on Tuesday, October 1st. Berenberg Bank set a $86.00 price target on shares of Fortive and gave the company a buy rating in a report on Wednesday, September 18th. Gordon Haskett lowered shares of Fortive from a buy rating to a hold rating in a report on Monday, August 5th. Finally, Credit Suisse Group boosted their price target on shares of Fortive from $73.00 to $75.00 and gave the company a neutral rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $78.25.

Shares of Fortive stock traded up $0.59 on Thursday, hitting $72.88. 852,302 shares of the company’s stock traded hands, compared to its average volume of 1,727,824. The firm’s 50-day moving average price is $68.97 and its two-hundred day moving average price is $75.10. The stock has a market capitalization of $24.68 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 2.68 and a beta of 1.21. Fortive has a one year low of $62.89 and a one year high of $89.48. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.19 and a quick ratio of 0.96.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, October 24th. The technology company reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortive had a net margin of 37.57% and a return on equity of 17.41%. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. On average, analysts forecast that Fortive will post 3.45 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in FTV. Atria Investments LLC boosted its stake in Fortive by 7.8% in the 2nd quarter. Atria Investments LLC now owns 12,974 shares of the technology company’s stock worth $896,000 after purchasing an additional 944 shares during the period. Meadow Creek Investment Management LLC boosted its stake in Fortive by 43.1% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 356,950 shares of the technology company’s stock worth $29,099,000 after purchasing an additional 107,536 shares during the period. Chesapeake Wealth Management boosted its stake in Fortive by 35.2% in the 2nd quarter. Chesapeake Wealth Management now owns 10,623 shares of the technology company’s stock worth $866,000 after purchasing an additional 2,763 shares during the period. Chicago Equity Partners LLC acquired a new position in Fortive in the 2nd quarter worth $241,000. Finally, National Pension Service boosted its stake in Fortive by 4.1% in the 2nd quarter. National Pension Service now owns 423,874 shares of the technology company’s stock worth $34,554,000 after purchasing an additional 16,681 shares during the period. 82.75% of the stock is owned by institutional investors.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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