Fortive (NYSE:FTV) Price Target Cut to $98.00

Fortive (NYSE:FTV) had its price objective lowered by Citigroup from $101.00 to $98.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s price target indicates a potential upside of 29.00% from the stock’s current price.

A number of other brokerages have also issued reports on FTV. Mizuho lifted their target price on shares of Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Vertical Research lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Wells Fargo & Company decreased their target price on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research note on Thursday. Royal Bank of Canada decreased their target price on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $95.00 to $90.00 in a research note on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating and seven have assigned 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 $86.46.

Fortive Trading Down 0.3 %

NYSE FTV opened at $75.97 on Thursday. Fortive has a twelve month low of $62.77 and a twelve month high of $87.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.75 and a current ratio of 1.50. The stock has a market cap of $26.74 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.32 and a beta of 1.13. The firm’s 50 day moving average price is $83.83 and its two-hundred day moving average price is $76.13.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Equities analysts anticipate that Fortive will post 3.79 EPS for the current year.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was 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. Insiders sold a total of 63,937 shares of company stock valued at $5,475,122 in the last quarter. Insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FTV. OFI Invest Asset Management bought a new position in shares of Fortive during the 3rd quarter worth about $25,000. Indiana Trust & Investment Management CO bought a new position in shares of Fortive during the 1st quarter worth about $26,000. Cornerstone Planning Group LLC bought a new position in shares of Fortive during the 3rd quarter worth about $28,000. Cetera Trust Company N.A bought a new position in shares of Fortive during the 4th quarter worth about $28,000. Finally, First Command Advisory Services Inc. bought a new stake in Fortive in the third quarter valued at about $30,000. Institutional investors own 94.94% of the company’s stock.

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.