Fortive Corporation (FTV) Now Covered by Analysts at BMO Capital Markets
BMO Capital Markets initiated coverage on shares of Fortive Corporation (NYSE:FTV) in a research note published on Wednesday morning. The firm issued an outperform rating and a $82.00 target price on the technology company’s stock.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Fortive Corporation from a hold rating to a buy rating and set a $78.00 target price on the stock in a research note on Tuesday, September 19th. SunTrust Banks, Inc. reaffirmed a buy rating and set a $81.00 target price on shares of Fortive Corporation in a research note on Friday, October 27th. Morgan Stanley reaffirmed an equal weight rating and set a $72.00 target price (up previously from $71.00) on shares of Fortive Corporation in a research note on Monday, October 2nd. Stifel Nicolaus reaffirmed a hold rating and set a $62.00 target price on shares of Fortive Corporation in a research note on Sunday, July 30th. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $66.00 target price on shares of Fortive Corporation in a research note on Friday, September 15th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Fortive Corporation currently has an average rating of Buy and an average target price of $70.27.
Fortive Corporation (NYSE FTV) traded up $0.59 during mid-day trading on Wednesday, hitting $72.44. 905,992 shares of the company’s stock were exchanged, compared to its average volume of 1,353,023. Fortive Corporation has a 12-month low of $52.99 and a 12-month high of $74.38. The stock has a market capitalization of $25,257.11, a PE ratio of 26.33, 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 current ratio of 1.95 and a quick ratio of 1.54.
Fortive Corporation (NYSE:FTV) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 earnings per share. research analysts expect that Fortive Corporation will post 2.85 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. Fortive Corporation’s dividend payout ratio is presently 10.57%.
In other news, SVP Stacey A. Walker sold 4,775 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James A. Lico sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the transaction, the insider now owns 166,014 shares in the company, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. Corporate insiders own 12.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of FTV. Spot Trading L.L.C. bought a new position in shares of Fortive Corporation in the first quarter worth approximately $637,000. Capstone Asset Management Co. raised its holdings in shares of Fortive Corporation by 3.4% during the second quarter. Capstone Asset Management Co. now owns 24,900 shares of the technology company’s stock valued at $1,577,000 after purchasing an additional 823 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Fortive Corporation by 5.0% during the second quarter. Bank of Montreal Can now owns 227,021 shares of the technology company’s stock valued at $14,383,000 after purchasing an additional 10,880 shares during the last quarter. Cullinan Associates Inc. raised its holdings in shares of Fortive Corporation by 448.3% during the second quarter. Cullinan Associates Inc. now owns 78,202 shares of the technology company’s stock valued at $4,954,000 after purchasing an additional 63,940 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of Fortive Corporation by 8.4% during the second quarter. Creative Planning now owns 7,930 shares of the technology company’s stock valued at $502,000 after purchasing an additional 614 shares during the last quarter. Hedge funds and other institutional investors own 79.13% of the company’s stock.
About Fortive Corporation
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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