Brokerages Set Fortive Corporation (FTV) Target Price at $69.10
Fortive Corporation (NYSE:FTV) has been assigned an average recommendation of “Buy” from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $70.27.
Several research firms recently weighed in on FTV. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Monday, July 24th. BMO Capital Markets initiated coverage on Fortive Corporation in a research report on Wednesday. They issued an “outperform” rating and a $82.00 target price on the stock. Citigroup Inc. upped their target price on Fortive Corporation from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Stifel Nicolaus upped their target price on Fortive Corporation from $62.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $72.00 target price (up from $71.00) on shares of Fortive Corporation in a research report on Monday, October 2nd.
In related news, SVP Stacey A. Walker sold 4,775 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James A. Lico sold 50,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total value of $3,657,000.00. Following the sale, the insider now owns 166,014 shares of the company’s stock, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in FTV. Spot Trading L.L.C. bought a new stake in shares of Fortive Corporation in the 1st quarter worth approximately $637,000. Nomura Asset Management Co. Ltd. increased its position in Fortive Corporation by 0.4% during the first quarter. Nomura Asset Management Co. Ltd. now owns 35,643 shares of the technology company’s stock worth $2,146,000 after buying an additional 140 shares during the last quarter. Park National Corp OH increased its position in Fortive Corporation by 173.0% during the second quarter. Park National Corp OH now owns 26,780 shares of the technology company’s stock worth $1,696,000 after buying an additional 16,969 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new position in Fortive Corporation during the second quarter worth approximately $1,565,000. Finally, First American Bank increased its position in Fortive Corporation by 22.1% during the second quarter. First American Bank now owns 52,946 shares of the technology company’s stock worth $3,354,000 after buying an additional 9,568 shares during the last quarter. Institutional investors own 79.13% of the company’s stock.
Shares of Fortive Corporation (FTV) traded up $0.07 during midday trading on Friday, hitting $72.67. The stock had a trading volume of 1,224,000 shares, compared to its average volume of 1,353,359. Fortive Corporation has a twelve month low of $52.99 and a twelve month high of $74.38. The stock has a market capitalization of $25,232.79, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.95.
Fortive Corporation (NYSE:FTV) last announced its earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. Fortive Corporation had a return on equity of 31.67% and a net margin of 14.39%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the business posted $0.65 earnings per share. Fortive Corporation’s revenue was up 7.4% compared to the same quarter last year. research analysts anticipate that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive Corporation’s dividend payout ratio is 10.57%.
Fortive Corporation Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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