A number of other equities research analysts have also weighed in on the stock. Robert W. Baird boosted their target price on shares of Fortive from $82.00 to $85.00 in a report on Thursday, July 27th. Citigroup boosted their target price on shares of Fortive from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Wells Fargo & Company reduced their target price on shares of Fortive from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, October 26th. TD Cowen boosted their target price on shares of Fortive from $70.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, August 23rd. Finally, UBS Group boosted their target price on shares of Fortive from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fortive currently has an average rating of “Moderate Buy” and an average target price of $78.46.
Fortive Price Performance
Fortive (NYSE:FTV – Get Free Report) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.52 billion. Fortive had a net margin of 13.77% and a return on equity of 11.96%. As a group, sell-side analysts forecast that Fortive will post 3.39 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new position in Fortive during the third quarter worth $25,000. PCA Investment Advisory Services Inc. acquired a new position in Fortive during the second quarter worth $26,000. Capital Advisors Ltd. LLC raised its holdings in Fortive by 1,590.9% during the second quarter. Capital Advisors Ltd. LLC now owns 372 shares of the technology company’s stock worth $28,000 after buying an additional 350 shares during the last quarter. Cornerstone Planning Group LLC acquired a new position in Fortive during the third quarter worth $28,000. Finally, First Command Advisory Services Inc. acquired a new position in Fortive during the third quarter worth $30,000. Institutional investors and hedge funds own 95.95% of the company’s stock.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.
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