Fortive Co. (NYSE:FTV) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Fortive Co. (NYSE:FTV) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $86.82.

A number of brokerages have weighed in on FTV. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $90.00 in a report on Friday, September 6th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Wells Fargo & Company cut their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Truist Financial upped their price objective on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th.

Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Fortive

Several institutional investors have recently bought and sold shares of FTV. Capital Performance Advisors LLP purchased a new position in shares of Fortive in the third quarter worth about $25,000. Ridgewood Investments LLC purchased a new stake in shares of Fortive during the second quarter worth $30,000. International Assets Investment Management LLC purchased a new position in shares of Fortive in the second quarter valued at $30,000. Goodman Advisory Group LLC bought a new stake in shares of Fortive during the 2nd quarter valued at $31,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in Fortive by 71.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.7 %

Shares of NYSE FTV opened at $75.00 on Wednesday. The firm has a market cap of $26.02 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. The company has a 50 day simple moving average of $76.09 and a 200 day simple moving average of $74.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10.

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

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

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.