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

Fortive (NYSE:FTV) had its price target reduced by research analysts at Barclays from $93.00 to $91.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 29.26% from the stock’s current price.

Several other equities research analysts also recently weighed in on FTV. Royal Bank of Canada reduced their target price on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 25th. Citigroup cut their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Truist Financial cut their price target on shares of Fortive from $96.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Six equities 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $85.92.

Fortive Price Performance

Shares of NYSE:FTV opened at $70.40 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. The firm has a fifty day moving average price of $74.31 and a 200 day moving average price of $78.41. Fortive has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The firm has a market cap of $24.78 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 2.24 and a beta of 1.12.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. Fortive’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Fortive will post 3.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTV. Raymond James & Associates grew its holdings in Fortive by 7.8% during the 4th quarter. Raymond James & Associates now owns 308,593 shares of the technology company’s stock worth $22,722,000 after acquiring an additional 22,308 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Fortive by 85.3% in the 4th quarter. Pacer Advisors Inc. now owns 42,475 shares of the technology company’s stock valued at $3,127,000 after buying an additional 19,557 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Fortive by 7.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 38,630 shares of the technology company’s stock valued at $2,844,000 after buying an additional 2,702 shares in the last quarter. MJP Associates Inc. ADV boosted its holdings in shares of Fortive by 27.2% in the 4th quarter. MJP Associates Inc. ADV now owns 4,656 shares of the technology company’s stock valued at $343,000 after buying an additional 995 shares in the last quarter. Finally, Cutler Group LLC CA boosted its holdings in shares of Fortive by 77.2% in the 4th quarter. Cutler Group LLC CA now owns 955 shares of the technology company’s stock valued at $70,000 after buying an additional 416 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

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.