Fortive (NYSE:FTV) Price Target Lowered to $91.00 at Barclays

Fortive (NYSE:FTV) had its price objective decreased by Barclays from $93.00 to $91.00 in a report issued on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

FTV has been the topic of several other reports. TD Cowen raised Fortive from a hold rating to a buy rating and raised their target price for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. StockNews.com raised Fortive from a hold rating to a buy rating in a research note on Monday, May 13th. JPMorgan Chase & Co. cut Fortive from an overweight rating to a neutral rating and cut their target price for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Truist Financial cut their target price on Fortive from $96.00 to $89.00 and set a buy rating on the stock in a research note on Tuesday, July 2nd. Finally, Citigroup cut their price objective on Fortive from $101.00 to $98.00 and set a buy rating on the stock in a research report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Fortive currently has an average rating of Moderate Buy and a consensus target price of $84.92.

Fortive Trading Down 0.6 %

NYSE FTV opened at $69.99 on Thursday. The stock’s 50-day simple moving average is $74.16 and its two-hundred day simple moving average is $78.36. Fortive has a twelve month low of $63.05 and a twelve month high of $87.10. The company has a market capitalization of $24.64 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.05 and a beta of 1.12. The company has a quick ratio of 1.17, a current ratio of 1.23 and a debt-to-equity ratio of 0.32.

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 return on equity of 12.32% and a net margin of 14.39%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Research analysts forecast that Fortive will post 3.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortive

A number of large investors have recently added to or reduced their stakes in FTV. Quadrant Capital Group LLC grew its position in shares of Fortive by 4.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock valued at $201,000 after acquiring an additional 126 shares during the period. Lipe & Dalton grew its position in shares of Fortive by 1.9% during the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock valued at $610,000 after acquiring an additional 130 shares during the period. RDA Financial Network grew its position in shares of Fortive by 3.4% during the 2nd quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock valued at $311,000 after acquiring an additional 138 shares during the period. Pitcairn Co. grew its position in shares of Fortive by 1.3% during the 1st quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after acquiring an additional 139 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of Fortive by 0.8% during the 2nd quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock valued at $1,371,000 after acquiring an additional 146 shares during the period. Institutional investors own 94.94% of the company’s stock.

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.