Fortive’s (FTV) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

Fortive (NYSE:FTV)‘s stock had its “underweight” rating reissued by JPMorgan Chase & Co. in a research report issued on Friday,Benzinga reports. They presently have a $57.00 price objective on the technology company’s stock, up from their prior price objective of $55.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 2.73% from the stock’s current price.

A number of other brokerages have also recently weighed in on FTV. Barclays raised their price objective on Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Wells Fargo & Company lifted their price target on shares of Fortive from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Monday, December 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Robert W. Baird upped their price objective on shares of Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, Citigroup lifted their target price on shares of Fortive from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.77.

Fortive Stock Performance

NYSE FTV opened at $55.49 on Friday. Fortive has a 52-week low of $46.34 and a 52-week high of $83.32. The company has a fifty day moving average of $53.90 and a 200-day moving average of $50.98. The company has a market capitalization of $17.62 billion, a P/E ratio of 31.71, a P/E/G ratio of 3.12 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $0.97 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.630-2.67 EPS. As a group, equities research analysts predict 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 the business’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is currently owned by company insiders.

Institutional Trading of Fortive

A number of institutional investors have recently modified their holdings of FTV. Dodge & Cox increased its holdings in Fortive by 28.4% during the 3rd quarter. Dodge & Cox now owns 42,595,794 shares of the technology company’s stock valued at $2,086,768,000 after purchasing an additional 9,422,189 shares during the period. Vanguard Group Inc. grew its position in shares of Fortive by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock worth $2,054,644,000 after buying an additional 839,321 shares during the last quarter. Viking Global Investors LP increased its stake in shares of Fortive by 28.7% during the third quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock valued at $1,003,495,000 after buying an additional 4,571,056 shares during the period. State Street Corp increased its stake in shares of Fortive by 0.7% during the second quarter. State Street Corp now owns 14,157,168 shares of the technology company’s stock valued at $738,013,000 after buying an additional 92,222 shares during the period. Finally, Flossbach Von Storch SE raised its holdings in shares of Fortive by 1.6% during the second quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock valued at $627,825,000 after acquiring an additional 189,027 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.