Shares of Fortive Co. (NYSE:FTV) have received an average recommendation of “Buy” from the twelve analysts that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $79.55.
FTV has been the topic of a number of research reports. Wolfe Research raised shares of Fortive from a “peer perform” rating to an “outperform” rating and raised their target price for the company from $81.00 to $84.00 in a research report on Monday, July 12th. Royal Bank of Canada cut their price objective on shares of Fortive from $78.00 to $74.00 and set a “sector perform” rating on the stock in a research report on Friday, July 30th. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $80.00 in a research report on Thursday, May 20th. Credit Suisse Group cut their price objective on shares of Fortive from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, May 20th. Finally, Zacks Investment Research downgraded shares of Fortive from a “buy” rating to a “hold” rating and set a $77.00 price objective on the stock. in a research report on Tuesday, August 3rd.
In other Fortive news, SVP Peter C. Underwood sold 3,522 shares of the business’s stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $74.27, for a total transaction of $261,578.94. Following the sale, the senior vice president now owns 42,889 shares of the company’s stock, valued at approximately $3,185,366.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by insiders.
NYSE FTV traded down $0.90 during trading on Friday, reaching $73.31. 12,230 shares of the company’s stock traded hands, compared to its average volume of 2,464,404. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.20 and a quick ratio of 1.01. The firm has a market cap of $26.27 billion, a price-to-earnings ratio of 15.47 and a beta of 1.15. The company’s 50 day simple moving average is $72.95 and its two-hundred day simple moving average is $71.51. Fortive has a 12-month low of $60.82 and a 12-month high of $82.12.
Fortive (NYSE:FTV) last posted its earnings results on Thursday, July 29th. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fortive had a net margin of 29.84% and a return on equity of 12.15%. Research analysts expect that Fortive will post 2.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Friday, September 10th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, September 9th. Fortive’s dividend payout ratio is presently 13.40%.
Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.
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