Analysts Set Fortive Corporation (NYSE:FTV) Price Target at $62.79

Fortive Corporation (NYSE:FTV) has been given a consensus recommendation of “Hold” by the eighteen research firms that are currently covering the stock, Marketbeat reports. Fourteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $62.7857.

A number of analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on Fortive from $87.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 2nd. Melius downgraded Fortive from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a report on Tuesday, July 22nd. Melius Research raised Fortive to a “hold” rating in a research note on Tuesday, July 22nd. Mizuho reduced their price objective on shares of Fortive from $85.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Fortive to a “hold” rating in a research report on Friday, September 5th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Dodge & Cox grew its holdings in shares of Fortive by 181.5% during the first quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock valued at $1,602,669,000 after buying an additional 14,120,456 shares during the last quarter. Norges Bank acquired a new position in Fortive during the 2nd quarter valued at about $357,602,000. Price T Rowe Associates Inc. MD increased its holdings in Fortive by 50.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock worth $959,567,000 after purchasing an additional 4,382,242 shares in the last quarter. Viking Global Investors LP raised its stake in shares of Fortive by 22.9% in the second quarter. Viking Global Investors LP now owns 15,912,624 shares of the technology company’s stock worth $829,525,000 after purchasing an additional 2,962,502 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Fortive by 96.6% in the first quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock worth $411,781,000 after purchasing an additional 2,764,432 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Performance

Shares of FTV stock opened at $48.96 on Friday. The stock has a market capitalization of $16.57 billion, a PE ratio of 22.05, a PEG ratio of 3.10 and a beta of 1.10. The business’s 50 day simple moving average is $48.41 and its 200 day simple moving average is $60.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. Fortive has a one year low of $46.34 and a one year high of $83.32.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). Fortive had a return on equity of 11.96% and a net margin of 13.62%.The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm posted $0.93 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. As a group, research analysts forecast that Fortive will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Fortive’s dividend payout ratio is 10.81%.

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.