Fortive (NYSE:FTV) Price Target Increased to $94.00 by Analysts at Barclays

Fortive (NYSE:FTV) had its price target boosted by Barclays from $91.00 to $94.00 in a report released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on FTV. Mizuho raised shares of Fortive from a neutral rating to an outperform rating and raised their target price for the stock from $80.00 to $90.00 in a report on Friday. Morgan Stanley began coverage on Fortive in a research report on Friday. They set an overweight rating and a $89.00 target price on the stock. Royal Bank of Canada reissued a sector perform rating and issued a $77.00 price objective on shares of Fortive in a research note on Friday. Raymond James upgraded shares of Fortive from a market perform rating to an outperform rating and set a $85.00 price target on the stock in a report on Thursday. Finally, Truist Financial cut their price objective on Fortive from $89.00 to $82.00 and set a buy rating for the company in a report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $86.23.

Fortive Stock Performance

Shares of Fortive stock opened at $70.67 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The firm’s 50-day simple moving average is $72.23 and its 200-day simple moving average is $77.01. Fortive has a 1 year low of $63.05 and a 1 year high of $87.10. The firm has a market cap of $24.88 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 2.17 and a beta of 1.12.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. Equities analysts forecast that Fortive will post 3.82 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. Fortive’s payout ratio is currently 12.65%.

Hedge Funds Weigh In On Fortive

Institutional investors have recently modified their holdings of the company. Indiana Trust & Investment Management CO bought a new stake in Fortive during the first quarter valued at about $26,000. Advisors Asset Management Inc. acquired a new stake in Fortive in the 1st quarter valued at approximately $32,000. Ridgewood Investments LLC bought a new position in Fortive in the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC bought a new position in Fortive in the 2nd quarter worth approximately $30,000. Finally, Goodman Advisory Group LLC acquired a new position in shares of Fortive during the second quarter worth approximately $31,000. 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.