Fortive Co. (NYSE:FTV) Receives Consensus Rating of “Buy” from Analysts

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.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sowell Financial Services LLC lifted its stake in Fortive by 418.3% during the 1st quarter. Sowell Financial Services LLC now owns 425 shares of the technology company’s stock valued at $31,000 after acquiring an additional 343 shares during the period. CSat Investment Advisory L.P. lifted its stake in Fortive by 44.2% during the 1st quarter. CSat Investment Advisory L.P. now owns 532 shares of the technology company’s stock valued at $38,000 after acquiring an additional 163 shares during the period. E Fund Management Co. Ltd. acquired a new stake in Fortive during the 1st quarter valued at approximately $42,000. CX Institutional lifted its stake in Fortive by 29.8% during the 2nd quarter. CX Institutional now owns 750 shares of the technology company’s stock valued at $52,000 after acquiring an additional 172 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in shares of Fortive in the 2nd quarter valued at $60,000. Institutional investors and hedge funds own 90.37% of the company’s stock.

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%.

About Fortive

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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Analyst Recommendations for Fortive (NYSE:FTV)

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