Fortive (NYSE:FTV) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Fortive (NYSE:FTV) from a neutral rating to an overweight rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have $92.00 price target on the technology company’s stock, up from their previous price target of $90.00.

A number of other research analysts have also recently commented on the stock. Wolfe Research cut shares of Fortive from an outperform rating to a peer perform rating in a report on Friday, September 6th. Truist Financial increased their target price on shares of Fortive from $82.00 to $90.00 and gave the stock a buy rating in a report on Wednesday. StockNews.com raised Fortive from a hold rating to a buy rating in a research note on Friday, September 13th. Morgan Stanley started coverage on Fortive in a research note on Friday, September 6th. They issued an overweight rating and a $89.00 price objective for the company. Finally, Royal Bank of Canada reissued a sector perform rating and set a $77.00 target price on shares of Fortive in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $87.36.

Fortive Trading Up 1.0 %

FTV opened at $78.02 on Thursday. Fortive has a twelve month low of $63.05 and a twelve month high of $87.10. The company has a 50-day simple moving average of $73.55 and a 200 day simple moving average of $75.34. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $27.47 billion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 2.24 and a beta of 1.12.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. The business 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 revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. Analysts predict that Fortive will post 3.82 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Fortive’s dividend payout ratio is currently 12.65%.

Insider Activity

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

Institutional Trading of Fortive

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