Fortive Co. (NYSE:FTV) Receives Average Rating of “Moderate Buy” from Brokerages

by · The Markets Daily

Fortive Co. (NYSE:FTV – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $86.23.

Several equities analysts have commented on FTV shares. Barclays upped their price objective on Fortive from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Morgan Stanley began coverage on shares of Fortive in a research note on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target on the stock. Truist Financial lowered their price objective on shares of Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Wells Fargo & Company reduced their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 price target on shares of Fortive in a report on Friday, September 6th.

Get Our Latest Analysis on FTV

Fortive Price Performance

Shares of Fortive stock opened at $76.34 on Monday. The stock has a 50 day moving average price of $72.43 and a 200-day moving average price of $76.23. Fortive has a one year low of $63.05 and a one year high of $87.10. The stock has a market cap of $26.87 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23.

Fortive (NYSE:FTV – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. Equities analysts expect that Fortive will post 3.82 EPS for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, September 13th. Fortive’s payout ratio is currently 12.65%.

Insiders Place Their Bets

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Fortive

Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its holdings in shares of Fortive by 4.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock valued at $201,000 after purchasing an additional 126 shares during the period. Lipe & Dalton increased its holdings in Fortive by 1.9% in the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after buying an additional 130 shares during the period. RDA Financial Network raised its position in Fortive by 3.4% during the 2nd quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after buying an additional 138 shares during the last quarter. Pitcairn Co. raised its position in Fortive by 1.3% during the 1st quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock worth $961,000 after buying an additional 139 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Fortive by 0.8% in the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after acquiring an additional 146 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Company Profile

(Get Free Report

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.

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