Fortive (NYSE:FTV) Price Target Raised to $85.00

Fortive (NYSE:FTV - Get Free Report) had its price objective lifted by investment analysts at Wells Fargo & Company from $80.00 to $85.00 in a report released on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's price target points to a potential upside of 4.09% from the company's previous close.

A number of other equities research analysts have also issued reports on the company. Argus restated a "hold" rating on shares of Fortive in a research report on Monday, November 18th. Royal Bank of Canada dropped their target price on Fortive from $85.00 to $77.00 and set a "sector perform" rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. reduced their price target on Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. StockNews.com raised shares of Fortive from a "hold" rating to a "buy" rating in a report on Saturday, January 25th. Finally, Truist Financial lifted 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.64.

Fortive Price Performance

FTV stock traded up $1.49 during midday trading on Monday, reaching $81.66. The stock had a trading volume of 1,522,644 shares, compared to its average volume of 2,355,198. Fortive has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company's fifty day simple moving average is $77.74 and its 200 day simple moving average is $75.57. The company has a market cap of $28.33 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same period in the prior year, the company earned $0.98 EPS. As a group, sell-side analysts predict that Fortive will post 3.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortive

Several hedge funds have recently bought and sold shares of FTV. Capital Performance Advisors LLP acquired a new stake in shares of Fortive during the third quarter worth about $25,000. Whipplewood Advisors LLC purchased a new stake in shares of Fortive during the fourth quarter worth $31,000. Versant Capital Management Inc raised its stake in shares of Fortive by 186.8% in the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock valued at $34,000 after acquiring an additional 297 shares in the last quarter. Crews Bank & Trust purchased a new position in Fortive in the fourth quarter valued at $37,000. Finally, Albion Financial Group UT acquired a new position in Fortive during the 4th quarter worth $38,000. 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.