Fortive Corp. (FTV) Receives Consensus Rating of “Hold” from Analysts
Fortive Corp. (NYSE:FTV) has been given an average recommendation of “Hold” by the fifteen research firms that are presently covering the stock. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $52.75.
FTV has been the subject of several research reports. Goldman Sachs Group Inc. initiated coverage on shares of Fortive Corp. in a research report on Wednesday, September 28th. They set a “neutral” rating and a $47.00 price target for the company. Stifel Nicolaus initiated coverage on shares of Fortive Corp. in a research report on Thursday, July 14th. They set a “hold” rating for the company. Argus initiated coverage on shares of Fortive Corp. in a research report on Thursday, September 8th. They set a “hold” rating for the company. Bank of America Corp. assumed coverage on shares of Fortive Corp. in a research report on Tuesday, July 26th. They set a “buy” rating and a $55.00 price target for the company. Finally, Citigroup Inc. upped their price objective on shares of Fortive Corp. from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, August 4th.
An institutional investor recently bought a new position in Fortive Corp. stock. Profit Investment Management LLC bought a new stake in Fortive Corp. (NYSE:FTV) during the third quarter, according to its most recent filing with the SEC. The institutional investor bought 4,765 shares of the company’s stock, valued at approximately $243,000. Hedge funds and other institutional investors own 1.69% of the company’s stock.
Fortive Corp. (NYSE:FTV) traded down 0.81% during trading on Monday, reaching $49.06. 549,944 shares of the company’s stock traded hands. The company’s 50 day moving average is $51.06 and its 200-day moving average is $50.77. Fortive Corp. has a 52-week low of $46.29 and a 52-week high of $54.34. The stock has a market cap of $16.95 billion and a price-to-earnings ratio of 19.84.
Fortive Corp. (NYSE:FTV) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.07. The company had revenue of $1.56 million for the quarter, compared to the consensus estimate of $1.56 million. Fortive Corp.’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. On average, analysts anticipate that Fortive Corp. will post $2.43 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, August 26th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 24th.
About Fortive Corp.
Fortive Corporation (Fortive) is an industrial growth company, which operates businesses that design, develop, manufacture, service and market professional and engineered products, software and services for a range of end markets. The Company has two segments: Professional Instrumentation and Industrial Technologies.
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