Fortive (NYSE:FTV) Upgraded by TD Cowen to “Buy”

TD Cowen upgraded shares of Fortive (NYSE:FTV) from a hold rating to a buy rating in a research report sent to investors on Monday morning, MarketBeat.com reports. TD Cowen currently has $90.00 price objective on the technology company’s stock, up from their prior price objective of $75.00.

A number of other brokerages have also recently commented on FTV. Wells Fargo & Company lowered their target price on Fortive from $92.00 to $84.00 and set an equal weight rating for the company in a report on Thursday, April 25th. Truist Financial lowered their target price on shares of Fortive from $96.00 to $89.00 and set a buy rating for the company in a report on Tuesday, July 2nd. StockNews.com upgraded Fortive from a hold rating to a buy rating in a research note on Monday, May 13th. Barclays lifted their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Finally, Citigroup decreased their price target on Fortive from $101.00 to $98.00 and set a buy rating for the company in a report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $86.08.

Fortive Price Performance

Shares of FTV stock opened at $74.95 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. The company has a market capitalization of $26.38 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.16 and a beta of 1.12. The firm’s 50-day moving average is $74.47 and its two-hundred day moving average is $78.16. Fortive has a 12 month low of $63.05 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. Analysts predict that Fortive will post 3.8 earnings per share for the current year.

Hedge Funds Weigh In On Fortive

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTV. Indiana Trust & Investment Management CO purchased a new position in Fortive in the 1st quarter valued at approximately $26,000. Cetera Trust Company N.A purchased a new stake in shares of Fortive during the 4th quarter valued at $28,000. Advisors Asset Management Inc. acquired a new stake in Fortive during the first quarter worth about $32,000. Spire Wealth Management increased its position in Fortive by 69.3% during the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock worth $37,000 after purchasing an additional 208 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in Fortive during the 4th quarter worth $38,000. Institutional investors and hedge funds 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.