Fortive (NYSE:FTV) Coverage Initiated by Analysts at Rosenblatt Securities

Rosenblatt Securities started coverage on shares of Fortive (NYSE:FTV) in a research report released on Thursday morning, The Fly reports. The brokerage issued a neutral rating and a $77.00 price target on the technology company’s stock.

A number of other equities research analysts also recently commented on the stock. Barclays dropped their price objective on shares of Fortive from $84.00 to $82.00 and set an overweight rating on the stock in a research report on Friday, October 25th. Zacks Investment Research raised shares of Fortive from a sell rating to a hold rating and set a $72.00 price objective on the stock in a research report on Tuesday, October 1st. Morgan Stanley dropped their price objective on shares of Fortive from $85.00 to $70.00 and set an equal weight rating on the stock in a research report on Friday, October 11th. Credit Suisse Group increased their price objective on shares of Fortive from $73.00 to $75.00 and gave the company a neutral rating in a research report on Friday, October 25th. Finally, Gordon Haskett downgraded shares of Fortive from a buy rating to a hold rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $78.25.

Shares of NYSE:FTV traded up $0.59 during trading hours on Thursday, reaching $72.88. The stock had a trading volume of 852,302 shares, compared to its average volume of 1,727,824. Fortive has a 1 year low of $62.89 and a 1 year high of $89.48. The firm’s 50 day moving average is $68.97 and its 200-day moving average is $75.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.96 and a current ratio of 1.19. The stock has a market capitalization of $24.68 billion, a price-to-earnings ratio of 23.82, a P/E/G ratio of 2.68 and a beta of 1.21.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $0.87 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.87. Fortive had a net margin of 37.57% and a return on equity of 17.41%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm posted $0.86 EPS. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. Analysts forecast that Fortive will post 3.45 EPS for the current year.

Institutional investors have recently modified their holdings of the company. Rational Advisors LLC acquired a new position in shares of Fortive in the 2nd quarter valued at $33,000. Kavar Capital Partners LLC acquired a new position in shares of Fortive in the 2nd quarter valued at $37,000. Compagnie Lombard Odier SCmA acquired a new stake in Fortive during the 2nd quarter worth $41,000. Kings Point Capital Management acquired a new stake in Fortive during the 2nd quarter worth $41,000. Finally, CSat Investment Advisory L.P. boosted its stake in Fortive by 342.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 673 shares of the technology company’s stock worth $55,000 after purchasing an additional 521 shares during the period. Institutional investors and hedge funds own 82.75% 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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Analyst Recommendations for Fortive (NYSE:FTV)

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