Barclays Lowers Fortive (NYSE:FTV) Price Target to $85.00

Fortive (NYSE:FTV) had its price objective cut by research analysts at Barclays from $90.00 to $85.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target points to a potential upside of 13.85% from the stock’s current price.

A number of other equities analysts also recently commented on FTV. Truist Financial upped their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their price objective on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Royal Bank of Canada upped their target price on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. JPMorgan Chase & Co. cut their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Fortive has an average rating of “Moderate Buy” and a consensus target price of $87.18.

Fortive Stock Down 0.7 %

Shares of NYSE FTV opened at $74.66 on Wednesday. The company has a market cap of $25.41 billion, a P/E ratio of 31.63, a PEG ratio of 2.68 and a beta of 1.16. The firm has a 50-day simple moving average of $78.48 and a two-hundred day simple moving average of $76.93. Fortive has a 1 year low of $66.15 and a 1 year high of $86.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter last year, the company posted $0.98 earnings per share. Research analysts anticipate that Fortive will post 4.05 earnings per share for the current year.

Insider Transactions at Fortive

In other news, CEO James A. Lico sold 196,117 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the transaction, the chief executive officer now owns 528,851 shares in the company, valued at $42,509,043.38. This represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 5,688 shares of Fortive stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total transaction of $457,997.76. Following the completion of the sale, the senior vice president now owns 47,141 shares of the company’s stock, valued at $3,795,793.32. This trade represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,385 shares of company stock valued at $19,508,529. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Fortive

Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in Fortive by 2.4% during the 4th quarter. California State Teachers Retirement System now owns 617,213 shares of the technology company’s stock valued at $46,291,000 after purchasing an additional 14,296 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Fortive in the fourth quarter valued at approximately $8,430,000. Dogwood Wealth Management LLC boosted its position in Fortive by 11.6% in the fourth quarter. Dogwood Wealth Management LLC now owns 7,383 shares of the technology company’s stock valued at $554,000 after buying an additional 768 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Fortive in the 4th quarter worth approximately $30,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Fortive during the 4th quarter worth approximately $42,686,000. 94.94% of the stock is owned by institutional investors and hedge funds.

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.