StockNews.com Lowers Fortive (NYSE:FTV) to Hold

StockNews.com lowered shares of Fortive (NYSE:FTV) from a buy rating to a hold rating in a report issued on Thursday morning.

A number of other equities analysts have also weighed in on FTV. Barclays lowered their target price on Fortive from $93.00 to $91.00 and set an overweight rating on the stock in a research note on Thursday, July 25th. Wells Fargo & Company dropped their target price on Fortive from $84.00 to $75.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. Raymond James upgraded shares of Fortive from a market perform rating to an outperform rating and set a $85.00 price target on the stock in a research note on Thursday. Royal Bank of Canada dropped their price objective on shares of Fortive from $83.00 to $77.00 and set a sector perform rating for the company in a research note on Thursday, July 25th. Finally, Truist Financial decreased their target price on shares of Fortive from $89.00 to $82.00 and set a buy rating on the stock in a research report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $86.23.

Fortive Stock Down 2.9 %

FTV stock opened at $70.67 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The business’s 50 day simple moving average is $72.23 and its 200 day simple moving average is $76.96. Fortive has a 1-year low of $63.05 and a 1-year high of $87.10. The firm has a market capitalization of $24.88 billion, a PE ratio of 27.93, a PEG ratio of 2.17 and a beta of 1.11.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the company posted $0.85 EPS. Fortive’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Fortive will post 3.82 EPS for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, September 13th. Fortive’s payout ratio is presently 12.65%.

Hedge Funds Weigh In On Fortive

Several hedge funds and other institutional investors have recently modified their holdings of the business. Indiana Trust & Investment Management CO bought a new stake in shares of Fortive during the 1st quarter worth $26,000. Ridgewood Investments LLC acquired a new position in Fortive during the second quarter worth about $30,000. International Assets Investment Management LLC bought a new position in shares of Fortive in the second quarter worth about $30,000. Goodman Advisory Group LLC acquired a new stake in shares of Fortive in the 2nd quarter valued at approximately $31,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Fortive during the 1st quarter valued at approximately $32,000. 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.