Truist Financial Has Lowered Expectations for Fortive (NYSE:FTV) Stock Price

Fortive (NYSE:FTV - Get Free Report) had its price objective dropped by analysts at Truist Financial from $90.00 to $81.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Truist Financial's target price indicates a potential upside of 24.99% from the stock's current price.

Other analysts have also issued research reports about the company. StockNews.com lowered Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Barclays dropped their price objective on Fortive from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. JPMorgan Chase & Co. lowered their target price on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Royal Bank of Canada increased their price target on shares of Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research note on Monday, February 10th. Finally, Citigroup lowered Fortive from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $83.33.

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Fortive Stock Up 1.6 %

NYSE:FTV traded up $1.04 during trading hours on Tuesday, reaching $64.81. 4,267,497 shares of the stock were exchanged, compared to its average volume of 2,358,081. The stock has a market cap of $22.05 billion, a PE ratio of 27.46, a PEG ratio of 2.68 and a beta of 1.12. Fortive has a twelve month low of $60.39 and a twelve month high of $83.66. The firm has a 50 day moving average of $75.19 and a 200 day moving average of $76.29. 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 (NYSE:FTV - Get Free Report) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the previous year, the business earned $0.98 earnings per share. On average, equities analysts expect that Fortive will post 4.05 earnings per share for the current year.

Insider Buying and Selling at Fortive

In other news, CEO James A. Lico sold 196,117 shares of Fortive stock in a transaction that occurred on Monday, February 24th. The shares were 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 in the company, valued at approximately $42,509,043.38. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 3,002 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $79.05, for a total value of $237,308.10. Following the sale, the senior vice president now directly owns 42,373 shares in the company, valued at $3,349,585.65. This represents a 6.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,385 shares of company stock valued at $19,508,529 in the last quarter. Company insiders own 1.01% of the company's stock.

Institutional Investors Weigh In On Fortive

Several institutional investors and hedge funds have recently bought and sold shares of the company. Parvin Asset Management LLC bought a new position in Fortive in the 4th quarter valued at about $26,000. American National Bank & Trust acquired a new position in Fortive during the first quarter valued at approximately $26,000. Park Square Financial Group LLC bought a new stake in Fortive during the fourth quarter worth $30,000. Whipplewood Advisors LLC bought a new position in shares of Fortive in the 4th quarter valued at $31,000. Finally, Versant Capital Management Inc raised its holdings 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 worth $34,000 after buying an additional 297 shares in the last quarter. 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.