Brokerages Set Fortive Co. (NYSE:FTV) Target Price at $81.92

Fortive Co. (NYSE:FTVGet Free Report) has been given a consensus rating of “Moderate Buy” by the twelve analysts that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $81.92.

A number of research analysts recently weighed in on FTV shares. Vertical Research lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. JPMorgan Chase & Co. upped their price objective on shares of Fortive from $83.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Wells Fargo & Company boosted their price target on shares of Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Finally, Barclays dropped their target price on shares of Fortive from $83.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th.

Check Out Our Latest Stock Report on Fortive

Fortive Price Performance

Shares of NYSE FTV opened at $82.24 on Friday. Fortive has a fifty-two week low of $62.70 and a fifty-two week high of $83.46. The stock has a market cap of $35.14 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.57 and a beta of 1.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.34 and a current ratio of 1.57. The firm’s 50-day simple moving average is $73.39 and its 200 day simple moving average is $73.39.

Fortive (NYSE:FTVGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. Fortive had a net margin of 14.27% and a return on equity of 12.12%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business posted $0.88 EPS. Fortive’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, research analysts anticipate that Fortive will post 3.78 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, February 23rd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.32 annualized dividend and a yield of 0.39%. Fortive’s payout ratio is 13.11%.

Hedge Funds Weigh In On Fortive

Several institutional investors have recently bought and sold shares of FTV. Moneta Group Investment Advisors LLC lifted its holdings in shares of Fortive by 61,103.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,600,591 shares of the technology company’s stock worth $231,338,000 after acquiring an additional 3,594,708 shares during the last quarter. Norges Bank acquired a new stake in Fortive during the 4th quarter valued at approximately $193,761,000. BlackRock Inc. lifted its stake in Fortive by 3.7% during the 2nd quarter. BlackRock Inc. now owns 31,960,801 shares of the technology company’s stock valued at $2,389,709,000 after acquiring an additional 1,135,961 shares during the period. Brown Advisory Inc. lifted its stake in shares of Fortive by 18.1% in the 2nd quarter. Brown Advisory Inc. now owns 6,507,074 shares of the technology company’s stock valued at $486,534,000 after purchasing an additional 999,436 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Fortive by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock valued at $2,288,355,000 after purchasing an additional 989,883 shares during the period. 95.95% of the stock is owned by hedge funds and other institutional investors.

Fortive Company Profile

(Get Free Report

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.

Featured Articles

Analyst Recommendations for Fortive (NYSE:FTV)

Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.