Fortive (FTV) Earns “Hold” Rating from Royal Bank of Canada
Fortive (NYSE:FTV)‘s stock had its “hold” rating reissued by Royal Bank of Canada in a note issued to investors on Wednesday. They currently have a $74.00 target price on the technology company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 1.94% from the company’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Monday, October 1st. Credit Suisse Group initiated coverage on shares of Fortive in a research note on Friday, October 12th. They issued a “neutral” rating and a $89.00 price target on the stock. Morgan Stanley set a $90.00 price target on shares of Fortive and gave the company an “equal weight” rating in a research note on Tuesday, October 2nd. SunTrust Banks reduced their price target on shares of Fortive from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Finally, Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, September 4th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $86.73.
FTV opened at $72.59 on Wednesday. Fortive has a 1-year low of $69.03 and a 1-year high of $88.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 0.98. The company has a market capitalization of $24.63 billion, a PE ratio of 25.12, a P/E/G ratio of 2.04 and a beta of 0.98.
In related news, insider William W. Pringle sold 476 shares of Fortive stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $73.18, for a total transaction of $34,833.68. Following the sale, the insider now directly owns 28,639 shares in the company, valued at approximately $2,095,802.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Stacey A. Walker sold 468 shares of Fortive stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $75.26, for a total transaction of $35,221.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,382 shares of company stock worth $10,729,598. 12.20% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its holdings in Fortive by 6.1% during the 3rd quarter. Legal & General Group Plc now owns 1,762,663 shares of the technology company’s stock worth $148,433,000 after purchasing an additional 100,889 shares during the last quarter. Standard Life Aberdeen plc raised its holdings in Fortive by 12.7% during the 3rd quarter. Standard Life Aberdeen plc now owns 85,142 shares of the technology company’s stock worth $7,169,000 after purchasing an additional 9,615 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in Fortive by 8,336.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 50,790 shares of the technology company’s stock worth $603,000 after purchasing an additional 50,188 shares during the last quarter. Northwest Quadrant Wealth Management LLC bought a new position in Fortive during the 3rd quarter worth approximately $213,000. Finally, Nordea Investment Management AB raised its holdings in Fortive by 16.2% during the 3rd quarter. Nordea Investment Management AB now owns 28,650 shares of the technology company’s stock worth $2,413,000 after purchasing an additional 3,986 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.
Fortive Company Profile
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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