Fortive (NYSE:FTV) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Fortive (NYSE:FTV) had its target price upped by Wells Fargo & Company from $77.00 to $80.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

FTV has been the subject of a number of other reports. Truist Financial lifted their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Argus restated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. UBS Group started coverage on shares of Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price for the company. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Barclays cut their price objective on Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average price target of $87.09.

Fortive Price Performance

NYSE:FTV opened at $76.67 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The company has a 50-day moving average of $75.94 and a 200-day moving average of $74.61. Fortive has a 52 week low of $66.15 and a 52 week high of $87.10. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.11 and a beta of 1.14.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that Fortive will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, November 29th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Insider Transactions at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Institutional Trading of Fortive

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Fortive by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock worth $644,346,000 after acquiring an additional 46,704 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Fortive by 13.8% in the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after buying an additional 977,428 shares during the period. Mizuho Securities USA LLC increased its position in shares of Fortive by 14,635.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after buying an additional 3,972,855 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Fortive by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock worth $271,851,000 after buying an additional 103,530 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Fortive by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after acquiring an additional 205,893 shares in the last quarter. 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.