Fortive Co. (NYSE:FTV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Fortive Co. (NYSE:FTV) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $84.91.

Several equities research analysts have recently weighed in on FTV shares. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Truist Financial lowered 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. Wells Fargo & Company lowered their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Saturday.

Fortive Trading Down 2.9 %

Shares of FTV stock opened at $68.44 on Friday. Fortive has a 52-week low of $63.05 and a 52-week high of $87.10. The stock has a market cap of $23.98 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 2.06 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The firm has a fifty day moving average of $73.44 and a 200-day moving average of $78.35.

Fortive (NYSE:FTV) last announced its quarterly earnings data 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 net margin of 14.39% and a return on equity of 12.32%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The business’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts forecast that Fortive will post 3.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortive

A number of institutional investors have recently added to or reduced their stakes in FTV. Indiana Trust & Investment Management CO acquired a new position in shares of Fortive in the first quarter valued at about $26,000. Cetera Trust Company N.A bought a new position in Fortive in the 4th quarter valued at approximately $28,000. Ridgewood Investments LLC bought a new position in Fortive in the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new position in Fortive in the 2nd quarter valued at approximately $30,000. Finally, Advisors Asset Management Inc. bought a new position in Fortive in the 1st quarter valued at approximately $32,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.