Wells Fargo & Company Cuts Fortive (NYSE:FTV) Price Target to $58.00
by Sarita Garza · The Markets DailyFortive (NYSE:FTV – Free Report) had its price objective trimmed by Wells Fargo & Company from $65.00 to $58.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.
Several other equities research analysts have also recently commented on FTV. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Royal Bank Of Canada lifted their price target on Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. boosted their price objective on Fortive from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 11th. Citigroup upped their price objective on Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, Mizuho reaffirmed an “underperform” rating and set a $51.00 target price (down from $54.00) on shares of Fortive in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.69.
Read Our Latest Report on Fortive
Fortive Stock Performance
Shares of FTV opened at $56.07 on Wednesday. The firm has a market capitalization of $17.26 billion, a PE ratio of 32.41, a P/E/G ratio of 3.03 and a beta of 1.09. The company has a quick ratio of 0.58, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $56.45 and a 200 day moving average price of $53.60. Fortive has a 52-week low of $46.34 and a 52-week high of $74.67.
Fortive (NYSE:FTV – Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. Fortive had a net margin of 12.48% and a return on equity of 11.98%. Fortive’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, sell-side analysts anticipate that Fortive will post 4.05 earnings per share for the current fiscal year.
Fortive Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.06 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.24 annualized dividend and a yield of 0.4%. Fortive’s payout ratio is 13.87%.
Insider Activity
In other Fortive news, Director Kate Mitchell sold 7,131 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $58.34, for a total value of $416,022.54. Following the transaction, the director owned 31,775 shares of the company’s stock, valued at approximately $1,853,753.50. This represents a 18.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.92% of the company’s stock.
Hedge Funds Weigh In On Fortive
Hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC lifted its holdings in shares of Fortive by 43.6% during the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after purchasing an additional 168 shares during the last quarter. Rothschild Investment LLC increased its stake in Fortive by 20.5% in the 4th quarter. Rothschild Investment LLC now owns 1,113 shares of the technology company’s stock worth $61,000 after purchasing an additional 189 shares in the last quarter. Empowered Funds LLC increased its stake in Fortive by 2.3% in the 4th quarter. Empowered Funds LLC now owns 8,733 shares of the technology company’s stock worth $482,000 after purchasing an additional 197 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Fortive by 2.5% during the 4th quarter. Park Avenue Securities LLC now owns 8,401 shares of the technology company’s stock worth $464,000 after buying an additional 208 shares during the period. Finally, Clearstead Trust LLC raised its holdings in Fortive by 29.8% during the 4th quarter. Clearstead Trust LLC now owns 953 shares of the technology company’s stock worth $53,000 after buying an additional 219 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.
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.