Fortive (NYSE:FTV) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Fortive (NYSE:FTV) had its price target increased by research analysts at Morgan Stanley from $50.00 to $53.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price would suggest a potential upside of 3.74% from the stock’s current price.

Several other equities research analysts have also weighed in on FTV. Royal Bank Of Canada cut their target price on Fortive from $58.00 to $56.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 31st. TD Cowen cut shares of Fortive from a “buy” rating to a “hold” rating and cut their price objective for the stock from $85.00 to $50.00 in a report on Tuesday, July 15th. Zacks Research upgraded shares of Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Truist Financial restated a “hold” rating and issued a $58.00 target price (up previously from $55.00) on shares of Fortive in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Fortive to a “hold” rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat, Fortive currently has a consensus rating of “Hold” and a consensus target price of $59.29.

Fortive Price Performance

Fortive stock opened at $51.09 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $48.99 and a 200-day simple moving average of $56.67. The stock has a market cap of $16.23 billion, a P/E ratio of 29.19, a price-to-earnings-growth ratio of 3.03 and a beta of 1.16. Fortive has a 12-month low of $46.34 and a 12-month high of $83.32.

Fortive (NYSE:FTV) last posted its earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. The firm had revenue of $1.07 billion for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%. Equities analysts expect that Fortive will post 4.05 EPS for the current fiscal year.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction on Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the transaction, the senior vice president directly owned 59,488 shares in the company, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Fortive

Several institutional investors have recently added to or reduced their stakes in FTV. Brighton Jones LLC lifted its position in Fortive by 97.1% during the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after acquiring an additional 2,811 shares during the period. World Investment Advisors increased its holdings in shares of Fortive by 32.4% in the first quarter. World Investment Advisors now owns 5,037 shares of the technology company’s stock valued at $369,000 after purchasing an additional 1,234 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Fortive by 5.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 236,354 shares of the technology company’s stock worth $16,954,000 after purchasing an additional 12,885 shares during the last quarter. Dogwood Wealth Management LLC lifted its holdings in shares of Fortive by 18.7% during the first quarter. Dogwood Wealth Management LLC now owns 8,763 shares of the technology company’s stock worth $641,000 after purchasing an additional 1,380 shares during the period. Finally, Arcus Capital Partners LLC lifted its holdings in shares of Fortive by 26.9% during the first quarter. Arcus Capital Partners LLC now owns 11,148 shares of the technology company’s stock worth $816,000 after purchasing an additional 2,360 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Company Profile

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.