Fortive (NYSE:FTV) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Fortive (NYSE:FTV – Get Rating) from a hold rating to a buy rating in a report published on Monday.

Several other equities research analysts also recently weighed in on FTV. Morgan Stanley lifted their price target on shares of Fortive from $64.00 to $68.00 and gave the company an equal weight rating in a research note on Friday. Mizuho decreased their price target on shares of Fortive from $62.00 to $60.00 and set a neutral rating for the company in a research note on Monday, July 18th. 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 research note on Friday. Credit Suisse Group set a $74.00 price target on shares of Fortive in a research note on Tuesday, July 19th. Finally, Wells Fargo & Company boosted their target price on shares of Fortive from $57.00 to $63.00 and gave the stock an equal weight rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Fortive currently has an average rating of Hold and a consensus price target of $70.71.

Fortive Price Performance

FTV stock opened at $64.43 on Monday. The firm 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 quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 0.28. Fortive has a 12-month low of $52.47 and a 12-month high of $79.87. The company’s fifty day simple moving average is $57.78 and its 200 day simple moving average is $60.62.

Fortive (NYSE:FTV – Get Rating) last released its earnings results on Thursday, July 28th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.06. The business had revenue of $1.46 billion for 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 revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, analysts expect that Fortive will post 3.1 earnings per share for the current year.

Institutional Trading of Fortive

A number of institutional investors have recently modified their holdings of FTV. Northwest Bancshares Inc. purchased a new stake in shares of Fortive during the 4th quarter valued at approximately $25,000. Howe & Rusling Inc. lifted its stake 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 buying an additional 213 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Fortive during the 1st quarter valued at approximately $27,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in shares of Fortive during the 2nd quarter valued at approximately $27,000. Finally, Crewe Advisors LLC purchased a new stake in shares of Fortive during the 4th quarter valued at approximately $31,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

About Fortive

(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.

See Also

• Get a free copy of the StockNews.com research report on Fortive (FTV)
• MarketBeat Podcast: Find Investing Opportunities For The Rest of 2022
• Deep Value High Yield Newell Brands Is Ready To Bottom 
• The Colgate-Palmolive Growth Outlook Brightens 
• These Stocks Outperformed Last Time There Was A Recession
• Does Rivian’s Stock Still Have A Future?

Want More Great Investing Ideas?