Brokerages Set Fortive Co. (NYSE:FTV) Price Target at $70.71

Shares of Fortive Co. (NYSE:FTV – Get Rating) have been given an average recommendation of “Hold” by the sixteen brokerages that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $72.64.

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Fortive from $57.00 to $63.00 and gave the company an “equal weight” rating in a research note on Monday, August 1st. Citigroup raised their price target on shares of Fortive from $69.00 to $72.00 in a research note on Friday, July 29th. Barclays raised their price target on shares of Fortive from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, August 1st. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Monday, August 1st. Finally, Loop Capital cut their price objective on shares of Fortive from $84.00 to $78.00 and set a “buy” rating for the company in a report on Tuesday, July 19th.

Institutional Trading of Fortive

Institutional investors have recently added to or reduced their stakes in the stock. Robeco Schweiz AG increased its holdings in Fortive by 124.2% in the 4th quarter. Robeco Schweiz AG now owns 77,604 shares of the technology company’s stock valued at $5,920,000 after purchasing an additional 42,984 shares during the last quarter. Redpoint Investment Management Pty Ltd boosted its position in Fortive by 33.3% in the 1st quarter. Redpoint Investment Management Pty Ltd now owns 7,320 shares of the technology company’s stock valued at $446,000 after buying an additional 1,829 shares during the period. Veriti Management LLC boosted its position in Fortive by 7.0% in the 1st quarter. Veriti Management LLC now owns 4,803 shares of the technology company’s stock valued at $293,000 after buying an additional 313 shares during the period. Dupont Capital Management Corp boosted its position in Fortive by 30.7% in the 1st quarter. Dupont Capital Management Corp now owns 1,923 shares of the technology company’s stock valued at $117,000 after buying an additional 452 shares during the period. Finally, Swiss National Bank boosted its position in Fortive by 1.6% in the 4th quarter. Swiss National Bank now owns 1,294,084 shares of the technology company’s stock valued at $98,726,000 after buying an additional 20,500 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Fortive Price Performance

NYSE:FTV opened at $65.27 on Wednesday. Fortive has a one year low of $52.47 and a one year high of $79.87. 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 has a market cap of $23.22 billion, a price-to-earnings ratio of 36.26, a PEG ratio of 2.24 and a beta of 1.16. The firm’s fifty day moving average is $58.16 and its two-hundred day moving average is $60.57.

Fortive (NYSE:FTV – Get Rating) last posted its 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. 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 analyst estimates of $1.41 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Research analysts expect that Fortive will post 3.11 EPS for the current year.

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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