Fortive Co. (NYSE:FTV) Receives $86.45 Consensus Target Price from Analysts

Fortive Co. (NYSE:FTV) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $86.45.

A number of equities research analysts recently commented on FTV shares. Truist Financial raised their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. reduced their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Argus reaffirmed a “hold” rating on shares of Fortive in a report on Monday, November 18th. Barclays cut their price objective on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their target price on shares of Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 7th.

Fortive Price Performance

Shares of FTV stock opened at $80.27 on Friday. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10. The firm has a market capitalization of $27.85 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 2.17 and a beta of 1.14. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average is $76.94 and its 200-day moving average is $74.98.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. Sell-side analysts forecast that Fortive will post 3.84 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, November 29th. Fortive’s dividend payout ratio is 12.75%.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the company’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 value of $382,900.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction on 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 directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fortive

Institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Fortive during the third quarter worth $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Fortive in the second quarter valued at about $31,000. Pinnacle Bancorp Inc. increased its holdings in Fortive by 71.0% during the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 176 shares during the last quarter. Versant Capital Management Inc increased its holdings in Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after buying an additional 297 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in Fortive during the fourth quarter worth about $37,000. 94.94% of the stock is owned by institutional investors.

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.