Analysts Set Fortive Co. (NYSE:FTV) Price Target at $86.54

Shares of Fortive Co. (NYSE:FTV) have been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $86.54.

A number of equities research analysts have commented on FTV shares. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Wells Fargo & Company increased their price target on shares of Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Mizuho increased their price target on shares of Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Finally, Citigroup raised their price objective on shares of Fortive from $90.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, April 8th.

Fortive Stock Up 0.3 %

NYSE:FTV opened at $80.61 on Friday. The firm’s 50-day moving average price is $84.32 and its 200-day moving average price is $76.13. The company has a market capitalization of $28.32 billion, a PE ratio of 33.04, a P/E/G ratio of 2.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 1.75. Fortive has a 1-year low of $62.70 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Fortive had a net margin of 14.27% and a return on equity of 12.12%. Fortive’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. On average, equities analysts predict that Fortive will post 3.78 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio is presently 13.11%.

Insider Buying and Selling

In other Fortive news, CEO Tamara S. Newcombe sold 5,000 shares of Fortive stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the sale, the chief executive officer now owns 55,017 shares of the company’s stock, valued at approximately $4,676,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the sale, the senior vice president now owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tamara S. Newcombe sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the sale, the chief executive officer now directly owns 55,017 shares in the company, valued at approximately $4,676,445. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortive

Several hedge funds have recently bought and sold shares of FTV. Quadrant Capital Group LLC boosted its stake in shares of Fortive by 4.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock worth $201,000 after purchasing an additional 126 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in Fortive by 5.1% in the third quarter. Ronald Blue Trust Inc. now owns 2,865 shares of the technology company’s stock valued at $214,000 after purchasing an additional 138 shares during the period. Edgemoor Investment Advisors Inc. grew its holdings in Fortive by 4.8% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 3,249 shares of the technology company’s stock valued at $239,000 after purchasing an additional 150 shares during the period. Fulton Bank N.A. increased its position in Fortive by 3.4% during the first quarter. Fulton Bank N.A. now owns 4,580 shares of the technology company’s stock worth $394,000 after purchasing an additional 151 shares during the last quarter. Finally, RFG Advisory LLC raised its stake in Fortive by 2.4% during the third quarter. RFG Advisory LLC now owns 6,618 shares of the technology company’s stock worth $491,000 after purchasing an additional 153 shares during the period. Hedge funds and other 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.