TD Cowen Upgrades Fortive (NYSE:FTV) to "Buy"

TD Cowen upgraded shares of Fortive (NYSE:FTV - Free Report) from a hold rating to a buy rating in a report published on Monday, MarketBeat Ratings reports. They currently have $90.00 price target on the technology company's stock, up from their previous price target of $75.00.

Several other equities research analysts also recently weighed in on the stock. StockNews.com raised shares of Fortive from a hold rating to a buy rating in a research note on Monday, May 13th. Citigroup decreased their price target on shares of Fortive from $101.00 to $98.00 and set a buy rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada decreased their price target on shares of Fortive from $93.00 to $83.00 and set a sector perform rating for the company in a research note on Thursday, April 25th. Truist Financial reduced their price objective on shares of Fortive from $96.00 to $89.00 and set a buy rating for the company in a report on Tuesday, July 2nd. Finally, Barclays lifted their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $87.08.

Fortive Trading Up 1.6 %

NYSE FTV traded up $1.13 during mid-day trading on Monday, reaching $73.54. 1,589,073 shares of the stock were exchanged, compared to its average volume of 1,648,573. Fortive has a one year low of $63.05 and a one year high of $87.10. The stock has a 50 day simple moving average of $74.58 and a 200-day simple moving average of $78.22. The stock has a market cap of $25.89 billion, a P/E ratio of 29.07, a P/E/G ratio of 2.12 and a beta of 1.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. On average, analysts anticipate that Fortive will post 3.8 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Indiana Trust & Investment Management CO purchased a new position in Fortive in the first quarter valued at about $26,000. Cetera Trust Company N.A purchased a new position in Fortive in the fourth quarter valued at about $28,000. Advisors Asset Management Inc. purchased a new position in Fortive in the first quarter valued at about $32,000. Spire Wealth Management boosted its stake in Fortive by 69.3% in the fourth quarter. Spire Wealth Management now owns 508 shares of the technology company's stock valued at $37,000 after acquiring an additional 208 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Fortive in the fourth quarter valued at about $38,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.