Fortive (NYSE:FTV) Price Target Cut to $90.00 by Analysts at Barclays

Fortive (NYSE:FTV) had its price target cut by stock analysts at Barclays from $95.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective indicates a potential upside of 17.19% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Argus restated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Truist Financial lifted their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company increased their price objective on shares of Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, UBS Group began coverage on shares of Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and an average price target of $86.64.

Fortive Stock Up 0.2 %

NYSE:FTV opened at $76.80 on Wednesday. The firm has a market capitalization of $26.65 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. Fortive has a twelve month low of $66.15 and a twelve month high of $87.10. The stock’s 50 day moving average price is $76.14 and its two-hundred day moving average price is $74.64.

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

Insider Buying and Selling at Fortive

In other Fortive 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 value of $12,320,351.68. Following the transaction, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction 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 own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Mizuho Securities USA LLC boosted its holdings in shares of Fortive by 14,635.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after purchasing an additional 3,972,855 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Fortive by 1,005.9% in the third quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock valued at $152,899,000 after buying an additional 1,761,983 shares in the last quarter. Janus Henderson Group PLC grew its position in Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after acquiring an additional 977,428 shares during the last quarter. Holocene Advisors LP grew its position in Fortive by 1,014.1% in the third quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock valued at $72,984,000 after acquiring an additional 841,671 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Fortive by 59.3% during the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after acquiring an additional 505,882 shares in the last quarter. 94.94% of the stock is 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.