StockNews.com Lowers Fortive (NYSE:FTV) to Hold

StockNews.com cut shares of Fortive (NYSE:FTV) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Other research analysts have also recently issued research reports about the company. Raymond James raised Fortive from a market perform rating to an outperform rating and set a $85.00 price target on the stock in a report on Thursday. Truist Financial reduced their target price on Fortive from $89.00 to $82.00 and set a buy rating for the company in a report on Thursday, July 25th. TD Cowen upgraded Fortive from a hold rating to a buy rating and increased their price target for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Wells Fargo & Company cut their price objective on Fortive from $84.00 to $75.00 and set an equal weight rating on the stock in a report on Wednesday, July 10th. Finally, Barclays decreased their target price on shares of Fortive from $93.00 to $91.00 and set an overweight rating for the company in a report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Fortive currently has an average rating of Moderate Buy and an average price target of $86.23.

Fortive Trading Down 2.9 %

Fortive stock opened at $70.67 on Thursday. Fortive has a 12-month low of $63.05 and a 12-month high of $87.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The stock has a market capitalization of $24.88 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11. The firm has a 50 day simple moving average of $72.23 and a 200-day simple moving average of $76.91.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business posted $0.85 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts expect that Fortive will post 3.82 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 17th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, September 13th. Fortive’s payout ratio is presently 12.65%.

Institutional Trading of Fortive

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in Fortive during the second quarter valued at approximately $985,000. New Century Financial Group LLC boosted its holdings in shares of Fortive by 36.2% during the 2nd quarter. New Century Financial Group LLC now owns 3,694 shares of the technology company’s stock worth $274,000 after buying an additional 982 shares during the period. Cetera Investment Advisers grew its stake in Fortive by 7.5% in the 2nd quarter. Cetera Investment Advisers now owns 56,497 shares of the technology company’s stock valued at $4,187,000 after buying an additional 3,951 shares during the last quarter. Truist Financial Corp raised its holdings in Fortive by 1.1% in the 2nd quarter. Truist Financial Corp now owns 142,068 shares of the technology company’s stock worth $10,527,000 after acquiring an additional 1,519 shares during the period. Finally, Brown Shipley& Co Ltd lifted its position in Fortive by 3.0% during the 2nd quarter. Brown Shipley& Co Ltd now owns 56,174 shares of the technology company’s stock worth $4,163,000 after acquiring an additional 1,655 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.