Fortive Co. (NYSE:FTV) Receives $86.45 Average Price Target from Brokerages

Fortive Co. (NYSE:FTV) has been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $86.45.

A number of research analysts recently weighed in on FTV shares. Royal Bank of Canada dropped their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Truist Financial boosted their target price on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. UBS Group began coverage on Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective on the stock. Finally, Argus reiterated a “hold” rating on shares of Fortive in a research note on Monday, November 18th.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Institutional Trading of Fortive

Several institutional investors and hedge funds have recently bought and sold shares of FTV. Capital Performance Advisors LLP purchased a new stake in shares of Fortive in the third quarter worth $25,000. Goodman Advisory Group LLC bought a new position in Fortive in the 2nd quarter worth about $31,000. Pinnacle Bancorp Inc. raised its holdings in shares of Fortive by 71.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after acquiring an additional 176 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after acquiring an additional 297 shares during the last quarter. Finally, Crews Bank & Trust purchased a new stake in Fortive in the fourth quarter valued at approximately $37,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Performance

NYSE FTV opened at $80.55 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $77.14 and a 200 day simple moving average of $75.07. Fortive has a 12-month low of $66.15 and a 12-month high of $87.10. The company has a market cap of $27.95 billion, a P/E ratio of 32.09, a PEG ratio of 2.15 and a beta of 1.14.

Fortive (NYSE:FTV) last posted its 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 return on equity of 12.56% and a net margin of 14.35%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts predict that Fortive will post 3.84 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, November 29th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

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.