Shares of Fortive Co. (NYSE:FTV - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twelve brokerages that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $88.20.
A number of analysts recently weighed in on FTV shares. StockNews.com raised shares of Fortive from a "hold" rating to a "buy" rating in a report on Friday, September 13th. TD Cowen raised shares of Fortive from a "hold" rating to a "buy" rating and raised their target price for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Royal Bank of Canada lowered their target price on shares of Fortive from $85.00 to $77.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 31st. Wolfe Research cut shares of Fortive from an "outperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Finally, Truist Financial lowered their target price on shares of Fortive from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Friday.
Check Out Our Latest Analysis on FTV
Insiders Place Their Bets
In related news, SVP Stacey A. Walker sold 171,808 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the sale, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Stacey A. Walker sold 171,808 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the sale, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares of the company's stock, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,895 shares of company stock worth $13,878,151 over the last ninety days. 1.01% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Fortive
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in Fortive during the third quarter valued at approximately $25,000. Ridgewood Investments LLC bought a new position in shares of Fortive in the second quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new position in shares of Fortive in the second quarter valued at approximately $30,000. Goodman Advisory Group LLC bought a new position in shares of Fortive in the second quarter valued at approximately $31,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Fortive in the first quarter valued at approximately $32,000. Institutional investors own 94.94% of the company's stock.
Fortive Stock Performance
Shares of FTV stock traded up $0.23 during trading hours on Tuesday, reaching $71.39. The stock had a trading volume of 3,663,193 shares, compared to its average volume of 1,923,225. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive has a twelve month low of $64.69 and a twelve month high of $87.10. The firm has a 50-day simple moving average of $75.17 and a 200-day simple moving average of $74.27. The firm has a market capitalization of $24.77 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13.
Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data 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. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same quarter last year, the company earned $0.85 EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Fortive will post 3.85 earnings per share for the current year.
Fortive Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, September 13th. Fortive's payout ratio is 12.75%.
Fortive Company Profile
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Get Free ReportFortive 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.
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