Fortive Corporation (FTV) Given Consensus Rating of “Buy” by Brokerages
Fortive Corporation (NYSE:FTV) has been assigned an average recommendation of “Buy” from the fourteen analysts that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $70.27.
Several research analysts recently issued reports on the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a research report on Sunday, July 30th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $66.00 target price on shares of Fortive Corporation in a research report on Friday, September 15th. Zacks Investment Research lowered Fortive Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. BMO Capital Markets assumed coverage on Fortive Corporation in a research report on Wednesday. They set an “outperform” rating and a $82.00 target price on the stock. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $72.00 target price (up from $65.00) on shares of Fortive Corporation in a research report on Monday, October 9th.
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Shares of Fortive Corporation (NYSE:FTV) traded down $0.19 during trading hours on Friday, reaching $72.25. The company had a trading volume of 2,945,395 shares, compared to its average volume of 1,360,508. Fortive Corporation has a 12 month low of $52.99 and a 12 month high of $74.38. The firm has a market cap of $25,257.11, a price-to-earnings ratio of 26.33, a P/E/G ratio of 2.51 and a beta of 0.37. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06.
Fortive Corporation (NYSE:FTV) last announced its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Fortive Corporation had a return on equity of 31.67% and a net margin of 14.39%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. equities analysts predict that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive Corporation’s dividend payout ratio is presently 10.57%.
In related news, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total value of $3,657,000.00. Following the sale, the insider now directly owns 166,014 shares in the company, valued at $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. BDO Wealth Advisors LLC acquired a new stake in Fortive Corporation during the second quarter worth about $128,000. Westwood Holdings Group Inc. acquired a new stake in Fortive Corporation during the second quarter worth about $139,000. Sun Life Financial INC grew its holdings in Fortive Corporation by 21,940.0% during the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,194 shares during the period. Willingdon Wealth Management acquired a new stake in Fortive Corporation during the third quarter worth about $143,000. Finally, CENTRAL TRUST Co grew its holdings in Fortive Corporation by 1.0% during the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after acquiring an additional 23 shares during the period. 79.13% of the stock is currently owned by hedge funds and other institutional investors.
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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