Fortive (NYSE:FTV) Price Target Raised to $63.00 at Wells Fargo & Company

Posted by on Aug 2nd, 2022

Fortive (NYSE:FTV – Get Rating) had its price target increased by Wells Fargo & Company from $57.00 to $63.00 in a research note published on Monday, The Fly reports. The brokerage currently has an equal weight rating on the technology company’s stock.

A number of other research firms also recently issued reports on FTV. Royal Bank of Canada raised their price objective on shares of Fortive from $61.00 to $68.00 in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Fortive from $60.00 to $68.00 and gave the company a maintains rating in a report on Friday. Barclays lifted their price target on shares of Fortive from $68.00 to $72.00 and gave the company an overweight rating in a report on Monday. Cowen lowered their price target on shares of Fortive from $80.00 to $70.00 in a report on Thursday, June 2nd. Finally, Mizuho reduced their price objective on shares of Fortive from $62.00 to $60.00 and set a neutral rating on the stock in a research report on Monday, July 18th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $70.71.

Fortive Trading Down 0.0 %

NYSE:FTV opened at $64.43 on Monday. The company has a 50-day moving average price of $57.78 and a 200-day moving average price of $60.62. Fortive has a 12 month low of $52.47 and a 12 month high of $79.87. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 0.28. The stock has a market cap of $23.09 billion, a price-to-earnings ratio of 35.79, a P/E/G ratio of 2.22 and a beta of 1.16.

Fortive (NYSE:FTV – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. Fortive had a net margin of 11.86% and a return on equity of 11.25%. Fortive’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business earned $0.66 EPS. Equities analysts predict that Fortive will post 3.1 EPS for the current year.

Institutional Trading of Fortive

Several hedge funds have recently made changes to their positions in FTV. Northwest Bancshares Inc. purchased a new position in Fortive during the 4th quarter valued at about $25,000. Howe & Rusling Inc. lifted its position in Fortive by 103.9% during the first quarter. Howe & Rusling Inc. now owns 418 shares of the technology company’s stock valued at $25,000 after buying an additional 213 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Fortive during the first quarter worth $27,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Fortive during the second quarter worth $27,000. Finally, Crewe Advisors LLC bought a new stake in shares of Fortive in the fourth quarter worth $31,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Fortive Company Profile

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Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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