Fortive (NYSE:FTV) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Fortive (NYSE:FTV) from a hold rating to a buy rating in a report issued on Saturday morning.

FTV has been the topic of several other reports. Barclays lowered their target price on shares of Fortive from $93.00 to $91.00 and set an overweight rating on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. downgraded Fortive from an overweight rating to a neutral rating and lowered their price objective for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Royal Bank of Canada reduced their target price on Fortive from $83.00 to $77.00 and set a sector perform rating for the company in a research report on Thursday, July 25th. TD Cowen upgraded Fortive from a hold rating to a buy rating and boosted their target price for the stock from $75.00 to $90.00 in a research report on Monday, July 8th. Finally, Truist Financial reduced their target price on Fortive from $89.00 to $82.00 and set a buy rating for the company in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $84.91.

Fortive Stock Performance

Shares of NYSE:FTV traded down $2.02 during midday trading on Friday, reaching $68.44. 2,909,871 shares of the company traded hands, compared to its average volume of 1,975,655. The firm’s fifty day moving average price is $73.44 and its two-hundred day moving average price is $78.35. The firm has a market capitalization of $23.98 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 2.06 and a beta of 1.12. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. Fortive has a 12 month low of $63.05 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts expect that Fortive will post 3.82 earnings per share for the current year.

Institutional Investors Weigh In On Fortive

Institutional investors have recently made changes to their positions in the business. Flossbach Von Storch AG lifted its stake in Fortive by 4.8% in the fourth quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock worth $817,873,000 after purchasing an additional 512,414 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Fortive by 13.1% in the 4th quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock valued at $557,929,000 after acquiring an additional 878,523 shares during the last quarter. Boston Partners boosted its holdings in Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after acquiring an additional 1,045,245 shares during the period. Janus Henderson Group PLC grew its position in Fortive by 47.1% during the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after acquiring an additional 1,999,792 shares during the last quarter. Finally, Capital World Investors increased its stake in Fortive by 0.6% in the 4th quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock worth $430,568,000 after purchasing an additional 33,990 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Company Profile

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.