Fortive (NYSE:FTV) PT Raised to $101.00

Fortive (NYSE:FTV) had its price objective boosted by research analysts at Citigroup from $90.00 to $101.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price target suggests a potential upside of 19.97% from the company’s previous close.

A number of other brokerages have also issued reports on FTV. Mizuho increased their price target on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Barclays upped their price target on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Truist Financial initiated coverage on shares of Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective on the stock. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Fortive from $83.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and an average price target of $86.31.

Fortive Stock Performance

NYSE:FTV opened at $84.19 on Monday. The stock has a 50-day simple moving average of $84.47 and a two-hundred day simple moving average of $75.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.75 and a current ratio of 2.05. Fortive has a 52-week low of $62.70 and a 52-week high of $87.10. The firm has a market capitalization of $29.58 billion, a PE ratio of 34.50, a P/E/G ratio of 2.65 and a beta of 1.13.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the company posted $0.88 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. Analysts forecast that Fortive will post 3.78 EPS for the current year.

Insider Transactions at Fortive

In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction on Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the sale, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $82.17, for a total value of $739,036.98. Following the completion of the sale, the chief accounting officer now owns 20,564 shares in the company, valued at approximately $1,689,743.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the transaction, the chief financial officer now owns 61,855 shares in the company, valued at $5,336,849.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortive

Hedge funds have recently made changes to their positions in the stock. PCA Investment Advisory Services Inc. purchased a new position in Fortive in the second quarter valued at about $26,000. OFI Invest Asset Management bought a new stake in shares of Fortive in the 3rd quarter valued at about $25,000. Cornerstone Planning Group LLC purchased a new position in shares of Fortive in the 3rd quarter worth approximately $28,000. Cetera Trust Company N.A bought a new position in shares of Fortive during the 4th quarter worth approximately $28,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Fortive during the 3rd quarter worth approximately $30,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.