Fortive Co. (NYSE:FTV) Receives $86.82 Consensus Target Price from Analysts

Shares of Fortive Co. (NYSE:FTV) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $86.82.

A number of research firms have recently commented on FTV. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $86.00 in a research note on Monday, December 9th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Finally, Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $90.00 in a research note on Friday, September 6th.

Fortive Stock Down 0.2 %

Shares of NYSE FTV opened at $75.65 on Wednesday. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10. The firm’s 50 day moving average price is $75.94 and its 200 day moving average price is $74.49. The firm has a market cap of $26.25 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. 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 issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping 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 in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fortive will post 3.85 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, November 29th. Fortive’s dividend payout ratio (DPR) is 12.75%.

Insider Activity

In related news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction 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 sale, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares in the company, valued at $3,702,336.68. This represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Fortive

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of Fortive during the third quarter worth approximately $25,000. Ridgewood Investments LLC bought a new stake in shares of Fortive in the 2nd quarter worth about $30,000. International Assets Investment Management LLC bought a new stake in shares of Fortive in the 2nd quarter worth about $30,000. Goodman Advisory Group LLC acquired a new stake in shares of Fortive in the 2nd quarter valued at about $31,000. Finally, Pinnacle Bancorp Inc. lifted its position in shares of Fortive by 71.0% during the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 176 shares during the last quarter. 94.94% of the stock is currently 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.