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

Fortive Co. (NYSE:FTV - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the thirteen research firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $87.64.

Several equities analysts recently issued reports on FTV shares. JPMorgan Chase & Co. reduced their price objective on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Citigroup downgraded shares of Fortive from a "buy" rating to a "neutral" rating and cut their price target for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Argus reaffirmed a "hold" rating on shares of Fortive in a research note on Monday, November 18th. StockNews.com downgraded shares of Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company increased their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, February 10th.

Institutional Investors Weigh In On Fortive

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Fortive during the 3rd quarter valued at $25,000. Parvin Asset Management LLC bought a new position in Fortive during the 4th quarter valued at $26,000. Whipplewood Advisors LLC bought a new position in Fortive during the 4th quarter valued at $31,000. Versant Capital Management Inc boosted its stake in 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 acquiring an additional 297 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in Fortive during the 4th quarter valued at $37,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Price Performance

Shares of NYSE FTV traded down $1.08 on Thursday, hitting $80.59. The company's stock had a trading volume of 2,713,487 shares, compared to its average volume of 2,179,319. Fortive has a 12-month low of $66.15 and a 12-month high of $87.10. The company has a market capitalization of $27.96 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The stock has a 50 day moving average of $77.83 and a 200-day moving average of $75.71.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same quarter in the prior year, the business earned $0.98 EPS. As a group, research analysts predict that Fortive will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The company 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 dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive's payout ratio is 12.75%.

About Fortive

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.