Truist Financial Increases Fortive (NYSE:FTV) Price Target to $90.00

Fortive (NYSE:FTV) had its price objective hoisted by research analysts at Truist Financial from $82.00 to $90.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective would suggest a potential upside of 16.49% from the company’s current price.

FTV has been the topic of several other reports. Wells Fargo & Company increased their price target on shares of Fortive from $75.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 price objective on shares of Fortive in a research report on Friday, September 6th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and raised their price target for the company from $80.00 to $90.00 in a report on Friday, September 6th. Finally, TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $90.00 in a research report on Monday, July 8th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.36.

Fortive Trading Up 0.6 %

Shares of FTV opened at $77.26 on Wednesday. The stock has a fifty day moving average price of $73.23 and a two-hundred day moving average price of $75.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The company has a market cap of $27.20 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 2.22 and a beta of 1.12. Fortive has a 52-week low of $63.05 and a 52-week high of $87.10.

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

Insider Buying and Selling

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Fortive

Institutional investors have recently added to or reduced their stakes in the stock. Indiana Trust & Investment Management CO acquired a new position in Fortive during the first quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of Fortive in the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new position in shares of Fortive in the second quarter valued at $30,000. Goodman Advisory Group LLC acquired a new position in Fortive during the second quarter worth $31,000. Finally, Advisors Asset Management Inc. bought a new stake in Fortive during the first quarter worth $32,000. 94.94% of the stock is owned by institutional investors.

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.