Barclays Boosts Fortive (NYSE:FTV) Price Target to $96.00

Fortive (NYSE:FTV) had its price target boosted by Barclays from $94.00 to $96.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other analysts have also issued research reports about the stock. Royal Bank of Canada restated a sector perform rating and set a $77.00 price target on shares of Fortive in a research note on Friday, September 6th. StockNews.com raised shares of Fortive from a hold rating to a buy rating in a research report on Friday, September 13th. Raymond James raised Fortive from a market perform rating to an outperform rating and set a $85.00 price objective for the company in a report on Thursday, September 5th. Truist Financial dropped their target price on Fortive from $89.00 to $82.00 and set a buy rating on the stock in a report on Thursday, July 25th. Finally, Wolfe Research downgraded Fortive from an outperform rating to a peer perform rating in a report on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $86.38.

Fortive Trading Up 0.8 %

FTV opened at $79.20 on Thursday. The company has a fifty day moving average price of $72.46 and a two-hundred day moving average price of $75.98. Fortive has a 1-year low of $63.05 and a 1-year high of $87.10. The company has a market cap of $27.88 billion, a P/E ratio of 31.30, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts predict that Fortive will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Insiders Place Their Bets

In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Fortive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTV. Lipe & Dalton lifted its stake in shares of Fortive by 1.9% during the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock valued at $610,000 after buying an additional 130 shares in the last quarter. RDA Financial Network lifted its position in shares of Fortive by 3.4% during the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after acquiring an additional 138 shares in the last quarter. Pitcairn Co. boosted its holdings in shares of Fortive by 1.3% in the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock worth $961,000 after acquiring an additional 139 shares during the period. QRG Capital Management Inc. grew its position in shares of Fortive by 0.8% in the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock valued at $1,371,000 after purchasing an additional 146 shares in the last quarter. Finally, Andina Capital Management LLC raised its stake in shares of Fortive by 3.4% during the 2nd quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock valued at $328,000 after purchasing an additional 147 shares during the period. 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.