Fortive Co. (NYSE:FTV) Receives $87.36 Consensus Target Price from Brokerages

Shares of Fortive Co. (NYSE:FTV) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $87.36.

Several research analysts have commented on the stock. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays lifted their price objective on Fortive from $96.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 price objective on shares of Fortive in a research report on Friday, September 6th.

Insider Buying and Selling at Fortive

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

Institutional Investors Weigh In On Fortive

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

Fortive Stock Performance

NYSE:FTV opened at $77.33 on Friday. The stock has a 50-day moving average price of $73.96 and a 200 day moving average price of $75.15. The stock has a market capitalization of $27.22 billion, a P/E ratio of 30.57, a P/E/G ratio of 2.24 and a beta of 1.12. Fortive has a 12-month low of $63.05 and a 12-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.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the firm posted $0.85 EPS. The company’s revenue was up 1.7% on a year-over-year basis. Equities research analysts forecast that Fortive will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

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

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.