Analysts Set Fortive Co. (NYSE:FTV) PT at $81.92

Fortive Co. (NYSE:FTVGet Free Report) has received an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $80.83.

Several equities analysts have recently weighed in on the company. Truist Financial cut their target price on Fortive from $90.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada increased their target price on shares of Fortive from $68.00 to $72.00 and gave the company a “sector perform” rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of Fortive from $90.00 to $73.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company increased their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Finally, Barclays decreased their price objective on shares of Fortive from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th.

Get Our Latest Research Report on Fortive

Insiders Place Their Bets

In other news, CEO James A. Lico sold 196,117 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the sale, the chief executive officer now owns 528,851 shares of the company’s stock, valued at approximately $42,509,043.38. This represents a 27.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 3,002 shares of Fortive stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the transaction, the senior vice president now directly owns 42,373 shares in the company, valued at approximately $3,349,585.65. The trade was a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,385 shares of company stock worth $19,508,529. 1.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortive

Hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. raised its holdings in Fortive by 9.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,947,135 shares of the technology company’s stock worth $3,221,036,000 after purchasing an additional 3,810,997 shares in the last quarter. Flossbach Von Storch SE raised its stake in shares of Fortive by 1.2% during the 4th quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company’s stock worth $892,743,000 after acquiring an additional 137,479 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Fortive by 164.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,730,161 shares of the technology company’s stock worth $654,763,000 after acquiring an additional 5,429,566 shares in the last quarter. Geode Capital Management LLC lifted its position in Fortive by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 8,294,930 shares of the technology company’s stock valued at $620,480,000 after acquiring an additional 103,015 shares during the last quarter. Finally, Boston Partners boosted its stake in Fortive by 2.1% in the fourth quarter. Boston Partners now owns 7,904,282 shares of the technology company’s stock valued at $594,108,000 after acquiring an additional 166,123 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Up 1.2 %

NYSE FTV opened at $67.59 on Tuesday. The stock has a 50 day moving average price of $71.11 and a 200-day moving average price of $75.19. Fortive has a one year low of $60.39 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The company has a market capitalization of $22.97 billion, a P/E ratio of 28.64, a P/E/G ratio of 2.68 and a beta of 1.10.

Fortive (NYSE:FTVGet Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm posted $0.83 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, equities analysts predict that Fortive will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Friday, May 30th. Fortive’s dividend payout ratio (DPR) is presently 14.04%.

About Fortive

(Get Free Report

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.

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Analyst Recommendations for Fortive (NYSE:FTV)

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