Fortive (NYSE:FTV) Stock Price Expected to Rise, Truist Financial Analyst Says

Fortive (NYSE:FTV) had its target price hoisted by Truist Financial from $89.00 to $90.00 in a report issued on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

A number of other equities research analysts also recently commented on FTV. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Royal Bank of Canada decreased their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Argus reiterated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Raymond James raised 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, September 5th. Finally, Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $86.82.

Fortive Trading Down 0.6 %

Shares of FTV stock opened at $73.24 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive has a twelve month low of $66.15 and a twelve month high of $87.10. The company’s 50-day moving average price is $76.24 and its 200-day moving average price is $74.39. The stock has a market cap of $25.41 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 2.15 and a beta of 1.14.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. As a group, equities analysts predict that Fortive will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Insiders Place Their Bets

In related news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fortive

A number of institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in shares of Fortive in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC acquired a new stake in Fortive during the second quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new position in Fortive during the 2nd quarter worth approximately $30,000. Goodman Advisory Group LLC acquired a new position in shares of Fortive in the 2nd quarter worth approximately $31,000. Finally, Pinnacle Bancorp Inc. raised its position in shares of Fortive by 71.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after acquiring an additional 176 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

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.