JPMorgan Chase & Co. Raises Fortive (NYSE:FTV) Price Target to $68.00

Posted by on Aug 2nd, 2022

Fortive (NYSE:FTV – Get Rating) had its price objective boosted by JPMorgan Chase & Co. from $60.00 to $68.00 in a research report report published on Friday, The Fly reports. JPMorgan Chase & Co. currently has a maintains rating on the technology company’s stock.

A number of other research firms also recently weighed in on FTV. Morgan Stanley lifted their price objective on Fortive from $64.00 to $68.00 and gave the company an equal weight rating in a report on Friday. Robert W. Baird decreased their price objective on Fortive from $81.00 to $77.00 in a report on Friday. Cowen decreased their price objective on Fortive from $80.00 to $70.00 and set a market perform rating on the stock in a report on Thursday, June 2nd. Wells Fargo & Company cut their target price on shares of Fortive from $58.00 to $57.00 and set an equal weight rating for the company in a research note on Tuesday, July 12th. Finally, Credit Suisse Group set a $74.00 target price on shares of Fortive in a research note on Tuesday, July 19th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $70.71.

Fortive Stock Down 0.0 %

FTV stock opened at $64.43 on Friday. Fortive has a twelve month low of $52.47 and a twelve month high of $79.87. The company has a market cap of $23.09 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. The business’s 50-day simple moving average is $57.78 and its 200 day simple moving average is $60.62. 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 (NYSE:FTV – Get Rating) last released its earnings results on Thursday, July 28th. The technology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Fortive had a return on equity of 11.25% and a net margin of 11.86%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, research analysts anticipate that Fortive will post 3.1 earnings per share for the current year.

Institutional Trading of Fortive

Institutional investors have recently bought and sold shares of the business. Crewe Advisors LLC acquired a new stake in Fortive during the 4th quarter worth $31,000. Howe & Rusling Inc. grew its holdings in Fortive by 103.9% during the 1st quarter. Howe & Rusling Inc. now owns 418 shares of the technology company’s stock worth $25,000 after acquiring an additional 213 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in Fortive during the 4th quarter worth $32,000. Riverview Trust Co acquired a new stake in Fortive during the 1st quarter worth $27,000. Finally, Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Fortive in the 2nd quarter valued at $27,000. 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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