Fortive Corporation (NYSE:FTV) Receives $57.85 Consensus PT from Analysts
by Scott Moore · The Cerbat GemShares of Fortive Corporation (NYSE:FTV – Get Free Report) have earned an average rating of “Hold” from the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $57.6154.
Several research firms have recently issued reports on FTV. Zacks Research upgraded Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Morgan Stanley boosted their price objective on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Wells Fargo & Company upped their target price on shares of Fortive from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Monday, December 22nd. Truist Financial reiterated a “hold” rating and issued a $58.00 target price (up from $55.00) on shares of Fortive in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 30th.
Read Our Latest Stock Analysis on Fortive
Fortive Price Performance
FTV opened at $55.47 on Friday. The company has a fifty day moving average price of $53.26 and a two-hundred day moving average price of $51.48. The firm has a market capitalization of $17.62 billion, a PE ratio of 31.70, a P/E/G ratio of 3.03 and a beta of 1.13. Fortive has a 52 week low of $46.34 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70.
Fortive (NYSE:FTV – Get Free Report) last posted its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The company had revenue of $1.07 billion for the quarter. As a group, analysts anticipate that Fortive will post 4.05 earnings per share for the current year.
Fortive Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, November 28th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, November 28th. Fortive’s payout ratio is presently 13.71%.
Insider Activity
In other news, SVP Stacey A. Walker sold 2,192 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total transaction of $110,367.20. Following the sale, the senior vice president owned 59,488 shares of the company’s stock, valued at $2,995,220.80. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.92% of the stock is owned by company insiders.
Institutional Trading of Fortive
Large investors have recently bought and sold shares of the business. Dodge & Cox raised its stake in shares of Fortive by 51.5% in the 2nd quarter. Dodge & Cox now owns 33,173,605 shares of the technology company’s stock valued at $1,729,340,000 after purchasing an additional 11,273,242 shares during the period. Norges Bank bought a new position in shares of Fortive during the second quarter worth about $357,602,000. Viking Global Investors LP raised its position in Fortive by 28.7% in the 3rd quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock valued at $1,003,495,000 after buying an additional 4,571,056 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Fortive by 55.2% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,709,913 shares of the technology company’s stock valued at $426,699,000 after acquiring an additional 3,096,711 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in Fortive by 205.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,719,200 shares of the technology company’s stock valued at $182,204,000 after acquiring an additional 2,502,300 shares in the last quarter. 94.94% of the stock is owned by institutional investors.
About Fortive
Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.
Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.
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