Fortive (NYSE:FTV) Given New $56.00 Price Target at JPMorgan Chase & Co.

Fortive (NYSE:FTV) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $64.00 to $56.00 in a report released on Friday, Benzinga reports. The firm presently has an “underweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 2.18% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Argus reissued a “buy” rating and set a $68.00 price target on shares of Fortive in a research report on Wednesday, August 19th. Evercore assumed coverage on Fortive in a research note on Monday, September 28th. They issued a “hold” rating and a $60.00 price target for the company. Truist Financial decreased their target price on Fortive from $68.00 to $63.00 and set a “hold” rating for the company in a research report on Monday. Finally, Weiss Ratings cut shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.64.

Fortive Price Performance

NYSE FTV traded up $0.83 on Friday, reaching $57.25. 817,999 shares of the company’s stock traded hands, compared to its average volume of 3,123,052. The stock has a market cap of $17.29 billion, a PE ratio of 33.83, a P/E/G ratio of 2.34 and a beta of 1.07. The stock has a 50-day simple moving average of $57.97 and a 200 day simple moving average of $59.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.24 and a quick ratio of 1.00. Fortive has a 12 month low of $47.71 and a 12 month high of $64.56.

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

Insiders Place Their Bets

In related news, SVP Peter C. Underwood sold 8,662 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $61.59, for a total value of $533,492.58. Following the completion of the transaction, the senior vice president directly owned 79,118 shares of the company’s stock, valued at approximately $4,872,877.62. This trade represents a 9.87% 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. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fortive

Institutional investors and hedge funds have recently modified their holdings of the stock. Dakota Community Bank & Trust NA grew its holdings in Fortive by 42.9% during the 3rd quarter. Dakota Community Bank & Trust NA now owns 1,002 shares of the technology company’s stock valued at $55,000 after purchasing an additional 301 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Fortive by 20.2% during the third quarter. GAMMA Investing LLC now owns 4,728 shares of the technology company’s stock valued at $259,000 after acquiring an additional 793 shares in the last quarter. North Point Portfolio Managers Corp OH purchased a new stake in shares of Fortive in the third quarter valued at approximately $44,000. QRG Capital Management Inc. raised its position in Fortive by 13.8% during the 2nd quarter. QRG Capital Management Inc. now owns 17,973 shares of the technology company’s stock valued at $1,098,000 after purchasing an additional 2,175 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA grew its position in shares of Fortive by 28.0% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 13,954 shares of the technology company’s stock worth $852,000 after buying an additional 3,052 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Company Profile

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides connected products, software, and services for customers in healthcare, manufacturing, infrastructure, and other regulated or asset-intensive industries. Its offerings are designed to improve productivity, operating efficiency, safety, compliance, and the reliability of critical equipment and processes.

The company’s businesses have included electronic test and measurement instruments, calibration and asset-management solutions, workplace and public-safety products, industrial software, and healthcare technologies.