Fortive (NYSE:FTV) Given New $96.00 Price Target at Barclays

by · The Markets Daily

Fortive (NYSE:FTV – Free Report) had its target price hoisted by Barclays from $94.00 to $96.00 in a research note released on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the company. TD Cowen upgraded Fortive from a hold rating to a buy rating and upped their price objective for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $77.00 target price on shares of Fortive in a research note on Friday, September 6th. Wolfe Research downgraded shares of Fortive from an outperform rating to a peer perform rating in a research note on Friday, September 6th. StockNews.com upgraded shares of Fortive from a hold rating to a buy rating in a report on Friday, September 13th. Finally, Truist Financial lowered their price target on shares of Fortive from $89.00 to $82.00 and set a buy rating for the company in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Fortive has a consensus rating of Moderate Buy and a consensus target price of $86.38.

Check Out Our Latest Research Report on FTV

Fortive Stock Up 0.8 %

FTV stock opened at $79.20 on Thursday. The company’s 50 day moving average is $72.46 and its 200 day moving average is $75.98. The stock has a market cap of $27.88 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. Fortive has a 1-year low of $63.05 and a 1-year high of $87.10.

Fortive (NYSE:FTV – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts predict that Fortive will post 3.82 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s payout ratio is presently 12.65%.

Insider Buying and Selling at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fortive

Hedge funds have recently made changes to their positions in the company. Indiana Trust & Investment Management CO purchased a new position in Fortive during the first quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in Fortive during the 2nd quarter valued at about $30,000. International Assets Investment Management LLC bought a new stake in Fortive during the second quarter worth about $30,000. Goodman Advisory Group LLC purchased a new stake in Fortive in the second quarter worth about $31,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Fortive during the first quarter valued at approximately $32,000. 94.94% of the stock is currently owned by institutional investors.

Fortive Company Profile

(Get Free Report)

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.

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