Fortive Co. (NYSE:FTV) Receives Average Recommendation of “Moderate Buy” from Brokerages

by · The Markets Daily

Fortive Co. (NYSE:FTV – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $86.82.

A number of research analysts have weighed in on the company. Royal Bank of Canada decreased their price target on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Barclays dropped their target price on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st.

Check Out Our Latest Report on FTV

Insider Buying and Selling at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares in the company, valued at $3,702,336.68. This represents a 9.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The shares were 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 owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

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

Fortive Price Performance

NYSE FTV opened at $75.00 on Wednesday. Fortive has a 12-month low of $66.15 and a 12-month high of $87.10. The firm’s 50 day moving average is $75.88 and its 200-day moving average is $74.52. The company has a market capitalization of $26.02 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the business earned $0.85 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that Fortive will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s payout ratio is currently 12.75%.

About Fortive

(Get Free Report

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.

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