Fortive Co. (NYSE:FTV) Receives Average Recommendation of “Hold” from Analysts

Fortive Co. (NYSE:FTV) has earned a consensus rating of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $86.54.

Several brokerages have commented on FTV. Vertical Research lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Truist Financial started coverage on shares of Fortive in a report on Thursday, March 14th. They issued a “buy” rating and a $99.00 target price for the company. Royal Bank of Canada upped their price target on Fortive from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 1st. Wells Fargo & Company raised their price objective on Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Finally, Citigroup boosted their target price on Fortive from $90.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, April 8th.

Insider Activity at Fortive

In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction that occurred on 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 directly owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following 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 can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction dated 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 directly owns 61,855 shares of the company’s stock, valued at approximately $5,336,849.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,937 shares of company stock valued at $5,475,122. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Fortive

A number of hedge funds have recently made changes to their positions in FTV. OFI Invest Asset Management purchased a new position in shares of Fortive in the 3rd quarter worth $25,000. Indiana Trust & Investment Management CO acquired a new position in shares of Fortive in the 1st quarter valued at about $26,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Fortive in the 2nd quarter valued at about $26,000. Cornerstone Planning Group LLC purchased a new stake in shares of Fortive during the 3rd quarter worth about $28,000. Finally, Cetera Trust Company N.A acquired a new stake in Fortive during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Down 0.0 %

Shares of Fortive stock opened at $80.17 on Friday. Fortive has a one year low of $62.70 and a one year high of $87.10. The company has a market cap of $28.17 billion, a P/E ratio of 32.86, a PEG ratio of 2.48 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.75 and a current ratio of 2.05. The firm has a fifty day moving average of $84.47 and a two-hundred day moving average of $75.98.

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

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 13.11%.

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.