Truist Financial Cuts Fortive (NYSE:FTV) Price Target to $56.00

Fortive (NYSE:FTV) had its target price decreased by Truist Financial from $57.00 to $56.00 in a report published on Monday morning, MarketBeat reports. Truist Financial currently has a hold rating on the technology company’s stock.

FTV has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on Fortive from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Wednesday, February 11th. Robert W. Baird set a $65.00 price target on Fortive in a report on Thursday, February 5th. Citigroup raised their price objective on Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Wells Fargo & Company reduced their price objective on Fortive from $65.00 to $58.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Finally, Zacks Research upgraded Fortive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Fortive currently has an average rating of “Hold” and an average target price of $60.00.

Fortive Stock Performance

Shares of Fortive stock opened at $60.82 on Monday. The firm has a market cap of $18.73 billion, a P/E ratio of 35.16, a P/E/G ratio of 3.30 and a beta of 1.09. The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. Fortive has a 12 month low of $46.34 and a 12 month high of $74.67. The stock’s fifty day moving average price is $57.20 and its 200-day moving average price is $54.60.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, equities research analysts expect that Fortive will post 2.94 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.06 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s dividend payout ratio is 13.87%.

Insider Buying and Selling at Fortive

In other Fortive news, Director Kate Mitchell sold 7,131 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total value of $416,022.54. Following the completion of the transaction, the director owned 31,775 shares in the company, valued at approximately $1,853,753.50. This represents a 18.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.92% of the company’s stock.

Institutional Trading of Fortive

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Patton Fund Management Inc. increased its position in shares of Fortive by 9.6% in the first quarter. Patton Fund Management Inc. now owns 4,501 shares of the technology company’s stock valued at $249,000 after buying an additional 396 shares in the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Fortive by 15.4% in the first quarter. Aaron Wealth Advisors LLC now owns 6,087 shares of the technology company’s stock valued at $336,000 after buying an additional 813 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Fortive in the first quarter valued at approximately $884,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Fortive in the first quarter valued at approximately $253,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Fortive in the first quarter valued at approximately $201,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.