Fortive (NYSE:FTV) Price Target Increased to $69.00 by Analysts at Wells Fargo & Company

Fortive (NYSE:FTV – Get Rating) had its price target upped by stock analysts at Wells Fargo & Company from $67.00 to $69.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 5.42% from the stock’s current price.

Several other brokerages have also issued reports on FTV. Morgan Stanley lifted their target price on shares of Fortive from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 27th. Credit Suisse Group decreased their price target on shares of Fortive from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, October 27th. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Thursday, October 20th. Citigroup raised their price target on shares of Fortive from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, December 9th. Finally, Mizuho lifted their target price on shares of Fortive from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, January 13th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.85.

Fortive Stock Up 0.5 %

Shares of NYSE FTV opened at $65.45 on Thursday. The company’s 50-day simple moving average is $65.99 and its 200-day simple moving average is $63.52. Fortive has a 52-week low of $52.47 and a 52-week high of $72.15. The firm has a market cap of $23.16 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.12. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Fortive (NYSE:FTV – Get Rating) last announced its earnings results on Wednesday, October 26th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. Fortive had a net margin of 12.22% and a return on equity of 11.69%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.44 billion. Equities analysts predict that Fortive will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling at Fortive

In related news, CFO Charles E. Mclaughlin sold 13,156 shares of Fortive stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $68.44, for a total value of $900,396.64. Following the completion of the transaction, the chief financial officer now owns 88,818 shares in the company, valued at $6,078,703.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Patrick K. Murphy sold 32,788 shares of Fortive stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $68.56, for a total value of $2,247,945.28. Following the completion of the transaction, the chief executive officer now owns 62,929 shares in the company, valued at $4,314,412.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 13,156 shares of Fortive stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $68.44, for a total transaction of $900,396.64. Following the completion of the transaction, the chief financial officer now owns 88,818 shares of the company’s stock, valued at approximately $6,078,703.92. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTV. Gradient Investments LLC acquired a new position in Fortive during the 4th quarter worth approximately $26,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in Fortive during the 2nd quarter worth approximately $27,000. Core Alternative Capital grew its holdings in Fortive by 98.2% during the 3rd quarter. Core Alternative Capital now owns 555 shares of the technology company’s stock worth $32,000 after acquiring an additional 275 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new position in Fortive during the 3rd quarter worth approximately $36,000. Finally, Atticus Wealth Management LLC acquired a new position in Fortive during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Fortive Company Profile

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Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.