JPMorgan Chase & Co. Issues Pessimistic Forecast for Fortive (NYSE:FTV) Stock Price

Fortive (NYSE:FTV - Free Report) had its target price lowered by JPMorgan Chase & Co. from $90.00 to $73.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the technology company's stock.

A number of other brokerages have also recently weighed in on FTV. Barclays reduced their target price on Fortive from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Citigroup cut 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. Truist Financial cut their price target on shares of Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. StockNews.com downgraded shares of Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada raised their target price 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. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Fortive currently has a consensus rating of "Hold" and an average target price of $83.33.

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Fortive Trading Up 1.6 %

FTV traded up $1.04 during midday trading on Tuesday, hitting $64.81. The company's stock had a trading volume of 4,267,497 shares, compared to its average volume of 2,358,081. The firm has a market cap of $22.05 billion, a P/E ratio of 27.46, a PEG ratio of 2.68 and a beta of 1.12. Fortive has a 52-week low of $60.39 and a 52-week high of $83.66. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $75.19 and a two-hundred day moving average price of $76.29.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly 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 last year, the business earned $0.98 earnings per share. On average, research analysts anticipate that Fortive will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Christopher M. Mulhall sold 6,493 shares of Fortive stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total value of $519,115.35. Following the sale, the chief accounting officer now directly owns 24,283 shares in the company, valued at $1,941,425.85. This trade represents a 21.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James A. Lico sold 196,117 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the completion of the transaction, the chief executive officer now 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. Insiders have sold a total of 243,385 shares of company stock worth $19,508,529 over the last quarter. 1.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fortive

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parvin Asset Management LLC acquired a new position in Fortive during the 4th quarter worth $26,000. American National Bank & Trust acquired a new stake in Fortive in the first quarter worth about $26,000. Park Square Financial Group LLC bought a new position in Fortive in the 4th quarter valued at about $30,000. Whipplewood Advisors LLC acquired a new position in shares of Fortive during the fourth quarter valued at approximately $31,000. Finally, Versant Capital Management Inc raised its stake in shares of 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 in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.