Fortive (NYSE:FTV) Given New $95.00 Price Target at Barclays

Fortive (NYSE:FTV) had its target price lowered by Barclays from $98.00 to $95.00 in a research report sent to investors on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Several other brokerages have also recently commented on FTV. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Thursday, September 5th. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $77.00 price objective on shares of Fortive in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.20.

Fortive Price Performance

Shares of NYSE FTV opened at $71.34 on Thursday. The firm has a fifty day moving average of $75.27 and a 200 day moving average of $74.43. Fortive has a one year low of $64.69 and a one year high of $87.10. The firm has a market cap of $24.75 billion, a PE ratio of 28.42, a PEG ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.95 and a current ratio of 1.25.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the company posted $0.85 EPS. Fortive’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts predict that Fortive will post 3.85 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Friday, September 13th. Fortive’s dividend payout ratio is presently 12.75%.

Insiders Place Their Bets

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was 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 this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction 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 approximately $5,030,281.80. This represents 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 owned by insiders.

Hedge Funds Weigh In On Fortive

Several hedge funds have recently bought and sold shares of FTV. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Fortive by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 841,041 shares of the technology company’s stock worth $72,346,000 after purchasing an additional 4,669 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Fortive by 14.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 8,375 shares of the technology company’s stock worth $720,000 after buying an additional 1,035 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in Fortive by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 27,751 shares of the technology company’s stock valued at $2,216,000 after buying an additional 750 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Fortive by 5.6% in the first quarter. Commonwealth Equity Services LLC now owns 24,289 shares of the technology company’s stock worth $2,089,000 after acquiring an additional 1,285 shares in the last quarter. Finally, SpiderRock Advisors LLC purchased a new stake in shares of Fortive during the first quarter worth $201,000. 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.