Fortive (NYSE:FTV) Price Target Lowered to $90.00 at Barclays

Fortive (NYSE:FTV - Free Report) had its price target cut by Barclays from $95.00 to $90.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company's stock.

Several other research firms have also recently weighed in on FTV. Argus reiterated a "hold" rating on shares of Fortive in a research report on Monday, November 18th. UBS Group started coverage on Fortive in a report on Wednesday, November 13th. They issued a "neutral" rating and a $84.00 price objective for the company. JPMorgan Chase & Co. raised shares of Fortive from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Citigroup downgraded Fortive from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Finally, Wells Fargo & Company lifted their target price on Fortive from $77.00 to $80.00 and gave the company an "equal weight" rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $86.64.

Fortive Stock Up 0.2 %

Shares of NYSE:FTV traded up $0.15 during midday trading on Wednesday, reaching $76.80. The company had a trading volume of 2,291,956 shares, compared to its average volume of 2,227,451. The stock has a market cap of $26.65 billion, a PE ratio of 30.60, a P/E/G ratio of 2.11 and a beta of 1.14. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. Fortive has a 1-year low of $66.15 and a 1-year high of $87.10. The business's 50 day moving average price is $76.04 and its 200 day moving average price is $74.62.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. Research analysts forecast that Fortive will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive's payout ratio is 12.75%.

Insider Activity at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares of the company's stock, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares of the company's stock, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Institutional Trading of Fortive

Institutional investors and hedge funds have recently modified their holdings of the stock. First Hawaiian Bank boosted its holdings in Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock worth $1,145,000 after acquiring an additional 10,125 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Fortive by 23.9% in the fourth quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company's stock valued at $118,292,000 after buying an additional 303,788 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Fortive during the fourth quarter valued at about $202,000. Versant Capital Management Inc boosted its holdings in Fortive by 186.8% in 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 during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Fortive by 2.7% in the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock worth $32,052,000 after acquiring an additional 10,795 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.