Fortive Co. (NYSE:FTV) Receives $87.64 Consensus Target Price from Brokerages

Fortive Co. (NYSE:FTV - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $87.64.

Several analysts recently issued reports on FTV shares. Citigroup downgraded shares of Fortive from a "buy" rating to a "neutral" rating and reduced their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. UBS Group assumed coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a "neutral" rating and a $84.00 target price for the company. Wells Fargo & Company upped their target price on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. StockNews.com downgraded Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada increased their price objective on Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Monday, February 10th.

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Fortive Stock Down 1.2 %

NYSE:FTV traded down $0.88 during trading hours on Monday, reaching $74.04. The company had a trading volume of 983,963 shares, compared to its average volume of 2,114,786. Fortive has a twelve month low of $66.15 and a twelve month high of $87.10. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The firm has a market cap of $25.19 billion, a price-to-earnings ratio of 31.26, a P/E/G ratio of 2.68 and a beta of 1.16. The business's 50-day simple moving average is $78.94 and its two-hundred day simple moving average is $76.85.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, equities analysts expect that Fortive will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, February 28th. Fortive's dividend payout ratio (DPR) is currently 13.56%.

Insider Buying and Selling

In other news, SVP Stacey A. Walker sold 3,002 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the transaction, the senior vice president now owns 42,373 shares of the company's stock, valued at $3,349,585.65. This represents a 6.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James A. Lico sold 196,117 shares of Fortive stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the sale, the chief executive officer now directly owns 528,851 shares of the company's stock, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,385 shares of company stock worth $19,508,529. Insiders own 1.01% of the company's stock.

Hedge Funds Weigh In On Fortive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTV. Capital Performance Advisors LLP purchased a new stake in shares of Fortive during the 3rd quarter valued at approximately $25,000. Parvin Asset Management LLC purchased a new stake in shares of Fortive during the fourth quarter worth $26,000. Park Square Financial Group LLC bought a new position in shares of Fortive in the fourth quarter worth $30,000. Whipplewood Advisors LLC purchased a new position in shares of Fortive in the fourth quarter valued at $31,000. Finally, Versant Capital Management Inc raised its stake in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock valued at $34,000 after purchasing an additional 297 shares during the period. Institutional investors 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.