Fortive (NYSE:FTV) Upgraded at Raymond James

Raymond James upgraded shares of Fortive (NYSE:FTV) from a market perform rating to an outperform rating in a research note released on Thursday morning, Marketbeat.com reports. The brokerage currently has $85.00 target price on the technology company’s stock.

Several other research firms have also recently weighed in on FTV. TD Cowen upgraded shares of Fortive from a hold rating to a buy rating and raised their price objective for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Wells Fargo & Company lowered their price target on Fortive from $84.00 to $75.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. StockNews.com upgraded Fortive from a hold rating to a buy rating in a report on Saturday, August 3rd. Royal Bank of Canada reduced their price objective on Fortive from $83.00 to $77.00 and set a sector perform rating on the stock in a research report on Thursday, July 25th. Finally, Truist Financial dropped 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. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $86.23.

Fortive Price Performance

Fortive stock opened at $70.67 on Thursday. The stock has a market cap of $24.88 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 2.17 and a beta of 1.11. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $72.23 and a 200 day simple moving average of $76.96. Fortive has a 52 week low of $63.05 and a 52 week high of $87.10.

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

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s payout ratio is 12.65%.

Institutional Trading of Fortive

Large investors have recently modified their holdings of the business. Brown Advisory Inc. grew its position 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 worth $557,929,000 after buying an additional 878,523 shares during the last quarter. Boston Partners lifted its stake in Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after acquiring an additional 1,045,245 shares during the period. Janus Henderson Group PLC boosted its holdings in Fortive by 47.1% in the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after acquiring an additional 1,999,792 shares in the last quarter. Capital World Investors raised its holdings 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 in the last quarter. Finally, Norges Bank purchased a new stake in shares of Fortive in the 4th quarter worth about $268,686,000. 94.94% of the stock is owned by institutional investors.

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.