Citigroup Lowers Fortive (NYSE:FTV) Price Target to $69.00

Fortive (NYSE:FTV - Free Report) had its price target lowered by Citigroup from $84.00 to $69.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the technology company's stock.

FTV has been the subject of a number of other research reports. BNP Paribas cut Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 price target for the company. in a research report on Wednesday, April 9th. Royal Bank of Canada upped their target price on Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on shares of Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com cut shares of Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Truist Financial lowered their target price on shares of Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $81.92.

Fortive Stock Up 0.7 %

FTV traded up $0.44 during trading on Monday, reaching $65.44. 1,534,172 shares of the stock traded hands, compared to its average volume of 2,372,899. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. Fortive has a fifty-two week low of $60.39 and a fifty-two week high of $83.32. The stock's 50-day simple moving average is $73.76 and its two-hundred day simple moving average is $75.86. The stock has a market cap of $22.27 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 2.68 and a beta of 1.12.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly 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 previous year, the business posted $0.98 earnings per share. As a group, equities research analysts expect that Fortive will post 4.05 EPS for the current year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. Fortive's payout ratio is 13.56%.

Insiders Place Their Bets

In other news, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the transaction, the chief financial officer now directly owns 76,126 shares of the company's stock, valued at approximately $6,003,296.36. This represents a 29.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 5,688 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the sale, the senior vice president now directly owns 47,141 shares in the company, valued at approximately $3,795,793.32. This represents a 10.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock worth $19,508,529 over the last 90 days. Corporate insiders own 1.01% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parvin Asset Management LLC acquired a new stake in shares of Fortive during the 4th quarter worth about $26,000. American National Bank & Trust bought a new stake in Fortive during the first quarter worth about $26,000. Park Square Financial Group LLC bought a new position in shares of Fortive in the fourth quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new position in shares of Fortive in the 4th quarter worth approximately $31,000. Finally, Versant Capital Management Inc grew its position in Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock worth $34,000 after acquiring an additional 297 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

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.