StockNews.com Upgrades Fortive (NYSE:FTV) to “Buy”

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

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Argus reiterated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Royal Bank of Canada cut their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 7th. Finally, UBS Group started coverage on Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.45.

Fortive Trading Up 0.4 %

NYSE:FTV opened at $80.55 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. Fortive has a 52-week low of $66.15 and a 52-week high of $87.10. The stock’s 50 day moving average price is $77.14 and its 200 day moving average price is $75.07. The company has a market capitalization of $27.95 billion, a PE ratio of 32.09, a P/E/G ratio of 2.15 and a beta of 1.14.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. On average, research analysts anticipate that Fortive will post 3.84 EPS for the current year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio is presently 12.75%.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the company’s 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 sale, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Fortive

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates grew its stake in Fortive by 15.0% in the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after acquiring an additional 51,690 shares during the period. Atomi Financial Group Inc. grew its position in shares of Fortive by 4.8% in the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock valued at $389,000 after purchasing an additional 226 shares during the period. First Hawaiian Bank increased its stake in Fortive by 197.0% in the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 10,125 shares during the last quarter. Principal Financial Group Inc. lifted its position in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after buying an additional 10,795 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Fortive in the 3rd quarter worth about $1,346,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.