Fortive Corp (FTV) Receives Average Recommendation of “Hold” from Brokerages
Shares of Fortive Corp (NYSE:FTV) have been given an average rating of “Hold” by the fourteen research firms that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $84.78.
A number of analysts have commented on FTV shares. Argus upped their target price on shares of Fortive from $84.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. Morgan Stanley upped their target price on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, July 31st. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. Finally, UBS Group increased their price objective on shares of Fortive from $86.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th.
In related news, insider William W. Pringle sold 6,316 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $81.08, for a total transaction of $512,101.28. Following the completion of the transaction, the insider now owns 21,066 shares in the company, valued at $1,708,031.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William W. Pringle sold 440 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $79.38, for a total transaction of $34,927.20. Following the transaction, the insider now owns 20,626 shares of the company’s stock, valued at approximately $1,637,291.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,602 shares of company stock valued at $6,047,572. Corporate insiders own 12.10% of the company’s stock.
FTV stock traded up $0.43 during midday trading on Friday, reaching $84.59. 3,740,051 shares of the company’s stock traded hands, compared to its average volume of 2,474,282. Fortive has a 52-week low of $65.48 and a 52-week high of $85.12. The stock has a market cap of $29.38 billion, a P/E ratio of 29.27, a P/E/G ratio of 2.04 and a beta of 0.55. The company has a current ratio of 1.96, a quick ratio of 1.68 and a debt-to-equity ratio of 0.52.
Fortive (NYSE:FTV) last announced its earnings results on Thursday, July 26th. The technology company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.02. Fortive had a net margin of 16.38% and a return on equity of 27.22%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. equities analysts forecast that Fortive will post 3.49 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.33%. Fortive’s dividend payout ratio (DPR) is presently 9.69%.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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