Fortive (NYSE:FTV) Price Target Raised to $80.00

Fortive (NYSE:FTV - Get Free Report) had its price target hoisted by analysts at Wells Fargo & Company from $77.00 to $80.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 4.34% from the stock's previous close.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. upgraded shares of Fortive from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Argus reaffirmed a "hold" rating on shares of Fortive in a research report on Monday, November 18th. Citigroup downgraded Fortive from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Barclays cut their price objective on shares of Fortive from $98.00 to $95.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Finally, Truist Financial boosted their target price on Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $87.09.

Fortive Trading Up 0.2 %

FTV traded up $0.15 on Tuesday, hitting $76.67. 2,446,162 shares of the company were exchanged, compared to its average volume of 2,211,340. The stock has a market capitalization of $26.60 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14. 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 firm has a fifty day simple moving average of $75.90 and a two-hundred day simple moving average of $74.58. Fortive has a 12 month low of $66.15 and a 12 month high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last issued 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. The firm 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 business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. Sell-side analysts expect that Fortive will post 3.85 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Mizuho Securities USA LLC grew its stake in Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company's stock valued at $315,720,000 after purchasing an additional 3,972,855 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Fortive by 1,005.9% in the third quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company's stock worth $152,899,000 after acquiring an additional 1,761,983 shares during the last quarter. Janus Henderson Group PLC grew its stake in Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company's stock worth $634,701,000 after buying an additional 977,428 shares during the last quarter. Holocene Advisors LP increased its position in Fortive by 1,014.1% in the third quarter. Holocene Advisors LP now owns 924,671 shares of the technology company's stock worth $72,984,000 after buying an additional 841,671 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Fortive by 59.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company's stock valued at $107,271,000 after purchasing an additional 505,882 shares during the last quarter. 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.