Fortive Co. (NYSE:FTV) Receives $86.82 Average PT from Brokerages

Fortive Co. (NYSE:FTV) has been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $86.82.

Several analysts recently issued reports on the company. Barclays cut their price target on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada reduced their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lowered their price target on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Fortive

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in Fortive by 0.6% during the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock valued at $644,346,000 after buying an additional 46,704 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Fortive by 13.8% in the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after acquiring an additional 977,428 shares in the last quarter. Mizuho Securities USA LLC lifted its position in shares of Fortive by 14,635.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after acquiring an additional 3,972,855 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Fortive by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock worth $271,851,000 after purchasing an additional 103,530 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Fortive by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after purchasing an additional 205,893 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Fortive stock opened at $75.65 on Wednesday. The company has a market cap of $26.25 billion, a PE ratio of 30.14, a P/E/G ratio of 2.15 and a beta of 1.14. Fortive has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a fifty day moving average price of $75.94 and a two-hundred day moving average price of $74.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts expect that Fortive will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were given a dividend of $0.08 per share. The ex-dividend date was Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Fortive’s dividend payout ratio (DPR) is 12.75%.

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.