Wells Fargo & Company Forecasts Strong Price Appreciation for Fortive (NYSE:FTV) Stock

Fortive (NYSE:FTV) had its price objective boosted by research analysts at Wells Fargo & Company from $80.00 to $85.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 6.07% from the company’s current price.

Other analysts have also issued reports about the company. Barclays lowered their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Truist Financial increased their price target on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, UBS Group assumed coverage on Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.64.

Fortive Price Performance

NYSE:FTV opened at $80.14 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm has a market cap of $27.80 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. Fortive has a 12 month low of $66.15 and a 12 month high of $87.10. The company’s 50-day moving average price is $77.69 and its two-hundred day moving average price is $75.47.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same period in the prior year, the company posted $0.98 EPS. On average, equities analysts anticipate that Fortive will post 3.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Fortive in the fourth quarter valued at approximately $347,000. Taikang Asset Management Hong Kong Co Ltd increased its position in shares of Fortive by 25.0% in the 4th quarter. Taikang Asset Management Hong Kong Co Ltd now owns 67,000 shares of the technology company’s stock valued at $5,025,000 after buying an additional 13,400 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Fortive during the 4th quarter worth $11,900,000. Hillsdale Investment Management Inc. lifted its holdings in Fortive by 4.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 9,380 shares of the technology company’s stock worth $704,000 after acquiring an additional 400 shares in the last quarter. Finally, Mizuho Securities USA LLC grew its stake in Fortive by 44.7% in the fourth quarter. Mizuho Securities USA LLC now owns 32,883 shares of the technology company’s stock valued at $2,466,000 after acquiring an additional 10,165 shares during the period. Institutional investors own 94.94% of the company’s stock.

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.