Fortive Corporation (FTV) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Fortive Corporation (NYSE:FTV) have been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $60.44.
A number of research analysts have commented on the stock. Stifel Nicolaus restated a “hold” rating and issued a $62.00 price objective on shares of Fortive Corporation in a research note on Sunday, July 30th. Zacks Investment Research lowered shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Morgan Stanley restated an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $66.00 price objective (up from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th.
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In other news, CFO Charles E. Mclaughlin sold 6,565 shares of Fortive Corporation stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 12.10% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Griffin Asset Management Inc. purchased a new stake in shares of Fortive Corporation in the second quarter valued at about $1,297,000. Lord Abbett & CO. LLC purchased a new stake in shares of Fortive Corporation in the second quarter valued at about $17,098,000. J.P. Marvel Investment Advisors LLC boosted its holdings in shares of Fortive Corporation by 0.5% in the second quarter. J.P. Marvel Investment Advisors LLC now owns 16,785 shares of the technology company’s stock valued at $1,063,000 after acquiring an additional 90 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Fortive Corporation by 24.5% in the second quarter. Toronto Dominion Bank now owns 104,177 shares of the technology company’s stock valued at $6,598,000 after acquiring an additional 20,519 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in shares of Fortive Corporation by 53.3% in the second quarter. WINTON GROUP Ltd now owns 16,640 shares of the technology company’s stock valued at $1,054,000 after acquiring an additional 5,783 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.
Fortive Corporation (FTV) traded up 0.20% during midday trading on Tuesday, reaching $65.10. 814,152 shares of the company’s stock traded hands. Fortive Corporation has a 1-year low of $46.81 and a 1-year high of $67.48. The company has a market capitalization of $22.60 billion, a PE ratio of 25.64 and a beta of 0.28. The firm’s 50 day moving average price is $64.98 and its 200-day moving average price is $62.24.
Fortive Corporation (NYSE:FTV) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. Fortive Corporation’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. Equities analysts expect that Fortive Corporation will post $2.79 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Fortive Corporation’s payout ratio is 11.02%.
Fortive Corporation Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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