Barclays Cuts Fortive (NYSE:FTV) Price Target to $95.00

Fortive (NYSE:FTV) had its price target reduced by Barclays from $98.00 to $95.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities analysts also recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $77.00 target price on shares of Fortive in a research report on Friday, September 6th. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and upped their target price for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Truist Financial increased their price target on shares of Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.20.

Fortive Stock Performance

NYSE FTV traded up $0.58 during midday trading on Thursday, hitting $72.01. The company had a trading volume of 965,276 shares, compared to its average volume of 1,896,948. The firm has a fifty day simple moving average of $75.31 and a two-hundred day simple moving average of $74.55. The stock has a market cap of $25.23 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 2.09 and a beta of 1.12. The company has a quick ratio of 0.95, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. Fortive has a fifty-two week low of $64.69 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV) 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. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. Equities analysts forecast that Fortive will post 3.85 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Friday, September 13th. Fortive’s dividend payout ratio is currently 12.75%.

Insider Activity

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

Institutional Investors Weigh In On Fortive

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in shares of Fortive during the 3rd quarter valued at $25,000. Ridgewood Investments LLC acquired a new position in Fortive during the 2nd quarter valued at about $30,000. International Assets Investment Management LLC bought a new stake in Fortive during the second quarter worth $30,000. Goodman Advisory Group LLC bought a new stake in shares of Fortive in the 2nd quarter worth $31,000. Finally, Advisors Asset Management Inc. bought a new stake in Fortive in the 1st quarter worth about $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.