Fortive (NYSE:FTV) Cut to Peer Perform at Wolfe Research

Wolfe Research downgraded shares of Fortive (NYSE:FTV) from an outperform rating to a peer perform rating in a report published on Friday, Marketbeat Ratings reports.

A number of other analysts have also recently issued reports on FTV. Mizuho raised Fortive from a neutral rating to an outperform rating and upped their target price for the company from $80.00 to $90.00 in a research report on Friday. Royal Bank of Canada decreased their price objective on Fortive from $83.00 to $77.00 and set a sector perform rating for the company in a report on Thursday, July 25th. Barclays cut their target price on shares of Fortive from $93.00 to $91.00 and set an overweight rating on the stock in a report on Thursday, July 25th. StockNews.com cut shares of Fortive from a buy rating to a hold rating in a report on Thursday, September 5th. Finally, Raymond James raised 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, September 5th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $86.23.

Fortive Stock Up 2.3 %

Shares of NYSE:FTV opened at $72.31 on Friday. The firm has a 50 day simple moving average of $72.23 and a 200-day simple moving average of $76.82. Fortive has a twelve month low of $63.05 and a twelve month high of $87.10. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $25.33 billion, a PE ratio of 28.58, a P/E/G ratio of 2.06 and a beta of 1.11.

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

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th will be issued a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. Fortive’s dividend payout ratio is currently 12.65%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Indiana Trust & Investment Management CO acquired a new stake in Fortive in the first quarter valued at $26,000. Advisors Asset Management Inc. purchased a new position in shares of Fortive in the 1st quarter valued at about $32,000. Ridgewood Investments LLC purchased a new position in shares of Fortive in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC acquired a new stake in shares of Fortive in the second quarter valued at about $30,000. Finally, Goodman Advisory Group LLC purchased a new stake in Fortive during the second quarter worth about $31,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

About Fortive

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.