Fortive (NYSE:FTV) Now Covered by Analysts at UBS Group

Equities research analysts at UBS Group started coverage on shares of Fortive (NYSE:FTV) in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $84.00 price target on the technology company’s stock. UBS Group’s price objective would indicate a potential upside of 11.93% from the company’s current price.

FTV has been the topic of a number of other research reports. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Royal Bank of Canada dropped their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Finally, Truist Financial lowered their price target on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.82.

Fortive Price Performance

Shares of NYSE:FTV opened at $75.05 on Wednesday. Fortive has a one year low of $65.14 and a one year high of $87.10. The stock has a market cap of $26.04 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The business’s fifty day moving average price is $75.30 and its two-hundred day moving average price is $74.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. On average, analysts forecast that Fortive will post 3.85 EPS for the current fiscal year.

Insider Activity at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the 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 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 192,895 shares of company stock worth $13,878,151. 1.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fortive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTV. Capital Performance Advisors LLP purchased a new position in Fortive in the third quarter valued at about $25,000. Advisors Asset Management Inc. purchased a new position in shares of Fortive during the 1st quarter valued at approximately $32,000. Ridgewood Investments LLC acquired a new stake in shares of Fortive during the second quarter worth approximately $30,000. International Assets Investment Management LLC bought a new stake in shares of Fortive in the second quarter worth $30,000. Finally, Goodman Advisory Group LLC acquired a new stake in Fortive in the second quarter valued at $31,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.