Fortive (NYSE:FTV) Upgraded at StockNews.com

StockNews.com upgraded shares of Fortive (NYSE:FTV) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other research analysts also recently commented on FTV. Royal Bank of Canada cut their price objective on shares of Fortive from $83.00 to $77.00 and set a sector perform rating for the company in a report on Thursday, July 25th. Barclays cut their price objective on shares of Fortive from $93.00 to $91.00 and set an overweight rating for the company in a report on Thursday, July 25th. JPMorgan Chase & Co. cut 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 research note on Wednesday, April 17th. TD Cowen upgraded shares of Fortive from a hold rating to a buy rating and increased their target price for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Finally, Citigroup lowered their target price on shares of Fortive from $101.00 to $98.00 and set a buy rating on the stock in a research note 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’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $84.91.

Fortive Stock Down 1.1 %

Fortive stock opened at $67.66 on Friday. Fortive has a twelve month low of $63.05 and a twelve month high of $87.10. The firm has a 50 day moving average price of $73.44 and a 200-day moving average price of $78.41. The company has a market capitalization of $23.70 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.06 and a beta of 1.12. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. Fortive’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. As a group, equities analysts predict that Fortive will post 3.82 EPS for the current year.

Institutional Trading of Fortive

Institutional investors and hedge funds have recently made changes to their positions in the stock. Indiana Trust & Investment Management CO purchased a new position in Fortive in the 1st quarter worth $26,000. Advisors Asset Management Inc. bought a new stake in Fortive in the 1st quarter worth $32,000. Cetera Trust Company N.A bought a new stake in Fortive in the 4th quarter worth $28,000. Ridgewood Investments LLC bought a new stake in Fortive in the 2nd quarter worth $30,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Fortive during the 2nd quarter valued at about $30,000. Hedge funds and other 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.