Fortive Co. (NYSE:FTV) Receives $87.82 Average PT from Analysts

Shares of Fortive Co. (NYSE:FTV) have earned an average rating of “Moderate Buy” from the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $87.82.

FTV has been the topic of a number of analyst reports. Royal Bank of Canada dropped their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Argus reissued a “hold” rating on shares of Fortive in a report on Monday, November 18th. UBS Group started coverage on Fortive in a research note on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price for the company. Truist Financial dropped their price target on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th.

Insider Activity

In other news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred 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 approximately $3,058,503.21. The trade was a 80.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,895 shares of company stock worth $14,261,051 over the last ninety days. Corporate insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FTV. Capital Performance Advisors LLP purchased a new stake in shares of Fortive in the 3rd quarter valued at approximately $25,000. Advisors Asset Management Inc. purchased a new position in shares of Fortive during the first quarter worth $32,000. Ridgewood Investments LLC purchased a new position in shares of Fortive during the second quarter worth $30,000. International Assets Investment Management LLC acquired a new stake in shares of Fortive in the second quarter valued at $30,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Fortive in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Trading Down 0.5 %

Shares of NYSE:FTV opened at $78.96 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive has a 12-month low of $66.15 and a 12-month high of $87.10. The business has a 50 day moving average of $76.23 and a two-hundred day moving average of $74.22. The company has a market capitalization of $27.40 billion, a PE ratio of 31.45, a PEG ratio of 2.18 and a beta of 1.13.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. As a group, analysts forecast that Fortive will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is 12.75%.

About Fortive

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.