Fortive Co. (NYSE:FTV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Fortive Co. (NYSE:FTV) have received an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $87.64.

Several brokerages have recently commented on FTV. Argus restated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Royal Bank of Canada raised their price objective on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday. StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company increased their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Barclays decreased their price target on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th.

Fortive Price Performance

Fortive stock opened at $80.18 on Thursday. The stock has a market capitalization of $27.82 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 2.14 and a beta of 1.15. Fortive has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The stock’s 50 day moving average price is $77.72 and its two-hundred day moving average price is $75.53.

Fortive (NYSE:FTV) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same quarter last year, the firm earned $0.98 EPS. On average, equities analysts predict that Fortive will post 3.84 earnings per share for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is 12.75%.

Hedge Funds Weigh In On Fortive

Hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Fortive during the third quarter valued at approximately $25,000. Whipplewood Advisors LLC bought a new position in Fortive in the 4th quarter valued at $31,000. Versant Capital Management Inc increased its position in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of Fortive during the 4th quarter worth $37,000. Finally, Albion Financial Group UT purchased a new position in shares of Fortive in the 4th quarter worth about $38,000. 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.