Royal Bank of Canada Forecasts Strong Price Appreciation for Fortive (NYSE:FTV) Stock

Fortive (NYSE:FTV - Get Free Report) had its target price hoisted by equities researchers at Royal Bank of Canada from $77.00 to $85.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the technology company's stock. Royal Bank of Canada's price objective would suggest a potential upside of 4.11% from the company's previous close.

Several other equities analysts have also recently issued reports on the company. Citigroup cut Fortive from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Truist Financial increased their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. StockNews.com raised shares of Fortive from a "hold" rating to a "buy" rating in a report on Saturday, January 25th. Wells Fargo & Company increased their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, Barclays decreased their target price on Fortive from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $87.64.

Fortive Stock Up 1.8 %

Shares of FTV traded up $1.48 during midday trading on Monday, hitting $81.65. The company had a trading volume of 1,558,908 shares, compared to its average volume of 2,355,198. The stock has a market cap of $28.33 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.14 and a beta of 1.15. The company's 50 day moving average price is $77.74 and its 200 day moving average price is $75.57. 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 52 week low of $66.15 and a 52 week high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same period last year, the company earned $0.98 earnings per share. On average, equities research analysts predict that Fortive will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its holdings in shares of Fortive by 5.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,554 shares of the technology company's stock valued at $192,000 after purchasing an additional 127 shares during the period. Private Advisor Group LLC grew its position in Fortive by 3.6% in the 3rd quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company's stock valued at $308,000 after buying an additional 135 shares in the last quarter. Wedmont Private Capital increased its stake in Fortive by 4.3% during the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company's stock valued at $252,000 after buying an additional 137 shares during the period. Dynasty Wealth Management LLC lifted its stake in shares of Fortive by 1.0% in the 4th quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company's stock worth $1,083,000 after acquiring an additional 142 shares during the period. Finally, Patton Albertson Miller Group LLC boosted its holdings in shares of Fortive by 1.7% in the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company's stock valued at $699,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds 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.