Fortive Corporation (NYSE:FTV) Receives $63.10 Average Price Target from Analysts

Fortive Corporation (NYSE:FTV) has been assigned an average recommendation of “Hold” from the twelve research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $63.10.

FTV has been the topic of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, May 12th. Morgan Stanley increased their target price on Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada boosted their price objective on Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Argus reissued a “buy” rating and issued a $68.00 price objective on shares of Fortive in a report on Wednesday. Finally, Wells Fargo & Company raised their target price on Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th.

Fortive Price Performance

Shares of NYSE:FTV opened at $60.14 on Monday. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 2.46 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.24 and a quick ratio of 1.00. The business’s 50 day simple moving average is $61.16 and its 200-day simple moving average is $59.39. Fortive has a 12 month low of $46.54 and a 12 month high of $64.56.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. As a group, equities analysts forecast that Fortive will post 3.02 earnings per share for the current fiscal year.

Fortive declared that its board has authorized a share buyback program on Monday, May 4th that authorizes the company to repurchase 20,000,000 outstanding shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Fortive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.07 per share. This is a boost from Fortive’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.28 annualized dividend and a yield of 0.5%. Fortive’s dividend payout ratio (DPR) is presently 14.20%.

Insiders Place Their Bets

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $61.59, for a total value of $533,492.58. Following the sale, the senior vice president owned 79,118 shares of the company’s stock, valued at $4,872,877.62. This trade represents a 9.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortive

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Fortive in the 2nd quarter valued at $1,626,463,000. Flossbach Von Storch SE acquired a new stake in shares of Fortive in the second quarter valued at about $739,668,000. Norges Bank acquired a new stake in Fortive in the fourth quarter valued at $491,928,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Fortive in the second quarter valued at $527,526,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Fortive by 102,687.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,487,060 shares of the technology company’s stock worth $413,361,000 after purchasing an additional 7,479,776 shares during the period. 94.94% of the stock is owned by institutional investors.

Fortive Company Profile

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.