Fortive (NYSE:FTV) Price Target Raised to $68.00

Fortive (NYSE:FTVGet Rating) had its price objective lifted by Morgan Stanley from $64.00 to $68.00 in a report published on Friday, Marketbeat reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

Several other equities analysts have also recently commented on the stock. Citigroup lifted their target price on shares of Fortive from $69.00 to $72.00 in a research report on Friday. Barclays dropped their target price on shares of Fortive from $74.00 to $68.00 and set an overweight rating on the stock in a research report on Friday, July 8th. Robert W. Baird dropped their target price on shares of Fortive from $81.00 to $77.00 in a research report on Friday. Wells Fargo & Company dropped their target price on shares of Fortive from $58.00 to $57.00 and set an equal weight rating on the stock in a research report on Tuesday, July 12th. Finally, Cowen dropped their target price on shares of Fortive from $80.00 to $70.00 in a research report on Thursday, June 2nd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $70.71.

Fortive Price Performance

Shares of NYSE FTV opened at $64.43 on Friday. Fortive has a fifty-two week low of $52.47 and a fifty-two week high of $79.87. The stock has a market cap of $23.09 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 2.22 and a beta of 1.16. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.73 and a current ratio of 0.94. The firm’s 50-day simple moving average is $57.78 and its 200 day simple moving average is $60.62.

Fortive (NYSE:FTVGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The technology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. Fortive had a net margin of 11.86% and a return on equity of 11.25%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, research analysts anticipate that Fortive will post 3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FTV. Northwest Bancshares Inc. purchased a new position in Fortive in the 4th quarter valued at approximately $25,000. Howe & Rusling Inc. grew its position in shares of Fortive by 103.9% during the 1st quarter. Howe & Rusling Inc. now owns 418 shares of the technology company’s stock valued at $25,000 after purchasing an additional 213 shares in the last quarter. Riverview Trust Co purchased a new position in shares of Fortive during the 1st quarter valued at $27,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Fortive during the 2nd quarter valued at $27,000. Finally, Crewe Advisors LLC purchased a new position in shares of Fortive during the 4th quarter valued at $31,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for Fortive (NYSE:FTV)

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