Fortive (NYSE:FTV) PT Raised to $98.00 at Barclays

Fortive (NYSE:FTV) had its price objective lifted by stock analysts at Barclays from $96.00 to $98.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price would suggest a potential upside of 25.59% from the company’s current price.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $77.00 target price on shares of Fortive in a research note on Friday, September 6th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Truist Financial reduced their target price on shares of Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Thursday, September 5th. Finally, Wells Fargo & Company reduced their price objective on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.54.

Fortive Trading Up 0.6 %

NYSE FTV traded up $0.43 on Wednesday, reaching $78.03. The company had a trading volume of 947,161 shares, compared to its average volume of 1,858,579. The firm has a market cap of $27.47 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 2.22 and a beta of 1.11. Fortive has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The business has a 50 day moving average of $72.52 and a two-hundred day moving average of $75.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.57 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts forecast that Fortive will post 3.82 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Fortive

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lipe & Dalton grew its stake in shares of Fortive by 1.9% in the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock valued at $610,000 after buying an additional 130 shares in the last quarter. RDA Financial Network raised its position in shares of Fortive by 3.4% during the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after purchasing an additional 138 shares during the period. Pitcairn Co. grew its stake in Fortive by 1.3% in the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after purchasing an additional 139 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Fortive by 0.8% during the 2nd quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after purchasing an additional 146 shares during the last quarter. Finally, Andina Capital Management LLC raised its holdings in Fortive by 3.4% in the 2nd quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock valued at $328,000 after acquiring an additional 147 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

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.