Fortive (NYSE:FTV) Given New $90.00 Price Target at JPMorgan Chase & Co.

Fortive (NYSE:FTV - Get Free Report) had its price objective dropped by JPMorgan Chase & Co. from $92.00 to $90.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 15.37% from the company's current price.

Several other analysts have also commented on the stock. StockNews.com upgraded shares of Fortive from a "hold" rating to a "buy" rating in a research report on Thursday, January 9th. Citigroup downgraded shares of Fortive from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Truist Financial boosted their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. UBS Group started coverage on Fortive in a research note on Wednesday, November 13th. They set a "neutral" rating and a $84.00 price objective for the company. Finally, Wells Fargo & Company raised 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, January 7th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $86.45.

Fortive Stock Up 0.9 %

FTV stock traded up $0.66 during trading on Wednesday, reaching $78.01. 2,748,927 shares of the company traded hands, compared to its average volume of 2,135,804. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The company has a market capitalization of $27.07 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14. The business has a 50 day simple moving average of $76.44 and a 200 day simple moving average of $74.71. Fortive has a 12 month low of $66.15 and a 12 month high of $87.10.

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

Insiders Place Their Bets

In related news, SVP Peter C. Underwood sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares of the company's stock, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the transaction, the senior vice president now owns 42,651 shares of the company's stock, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company's stock.

Institutional Trading of Fortive

Several institutional investors have recently modified their holdings of the stock. Raymond James & Associates lifted its position in Fortive by 15.0% in the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company's stock valued at $31,216,000 after acquiring an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. increased its position in shares of Fortive by 4.8% during the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company's stock worth $389,000 after purchasing an additional 226 shares in the last quarter. First Hawaiian Bank lifted its holdings in shares of Fortive by 197.0% in the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock valued at $1,145,000 after purchasing an additional 10,125 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Fortive by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock valued at $32,052,000 after purchasing an additional 10,795 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Fortive in the 3rd quarter valued at about $1,346,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

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.