A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Fortive from a buy rating to a hold rating in a report on Monday. Morgan Stanley downgraded Fortive from an overweight rating to an equal weight rating and set a $83.48 price objective on the stock. in a report on Wednesday, May 8th. They noted that the move was a valuation call. Argus reissued a buy rating on shares of Fortive in a report on Tuesday, April 30th. BMO Capital Markets raised their target price on Fortive from $96.00 to $99.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Finally, Barclays raised their target price on Fortive from $81.00 to $88.00 and gave the stock an overweight rating in a research report on Wednesday, April 3rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $87.35.
Shares of FTV stock traded up $0.71 during trading hours on Monday, reaching $81.21. The company’s stock had a trading volume of 107,453 shares, compared to its average volume of 1,453,590. The company has a market cap of $27.69 billion, a PE ratio of 26.54, a P/E/G ratio of 1.76 and a beta of 1.13. Fortive has a fifty-two week low of $62.89 and a fifty-two week high of $89.48. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.97 and a current ratio of 2.20.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Thursday, May 30th. Fortive’s dividend payout ratio (DPR) is presently 9.15%.
In other news, insider William W. Pringle sold 435 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $80.66, for a total value of $35,087.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jonathan L. Schwarz sold 3,746 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $81.63, for a total value of $305,785.98. Following the completion of the sale, the vice president now owns 17,740 shares of the company’s stock, valued at $1,448,116.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,950 shares of company stock valued at $1,519,183. Corporate insiders own 12.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Zeke Capital Advisors LLC boosted its stake in shares of Fortive by 2.9% in the 1st quarter. Zeke Capital Advisors LLC now owns 4,378 shares of the technology company’s stock worth $367,000 after buying an additional 125 shares during the last quarter. Emerald Advisers LLC raised its holdings in shares of Fortive by 0.7% in the 1st quarter. Emerald Advisers LLC now owns 21,120 shares of the technology company’s stock worth $1,772,000 after purchasing an additional 144 shares during the period. Mcmillion Capital Management Inc. raised its holdings in shares of Fortive by 3.1% in the 1st quarter. Mcmillion Capital Management Inc. now owns 4,865 shares of the technology company’s stock worth $408,000 after purchasing an additional 148 shares during the period. Norway Savings Bank raised its holdings in shares of Fortive by 2.3% in the 1st quarter. Norway Savings Bank now owns 7,187 shares of the technology company’s stock worth $603,000 after purchasing an additional 165 shares during the period. Finally, Trust Co. of Vermont raised its holdings in shares of Fortive by 3.2% in the 1st quarter. Trust Co. of Vermont now owns 5,275 shares of the technology company’s stock worth $443,000 after purchasing an additional 166 shares during the period. Institutional investors own 85.08% of the company’s stock.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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