Fortive (NYSE:FTV) Stock Rating Reaffirmed by Credit Suisse Group
Fortive (NYSE:FTV)‘s stock had its “hold” rating reiterated by investment analysts at Credit Suisse Group in a report released on Tuesday, AnalystRatings.com reports. They currently have a $76.00 price objective on the technology company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 8.52% from the company’s current price.
A number of other research analysts have also recently weighed in on the company. Barclays lowered their price objective on Fortive from $89.00 to $84.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Cowen cut Fortive from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $75.00 to $65.00 in a research report on Monday, June 3rd. Gordon Haskett cut Fortive from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Zacks Investment Research cut Fortive from a “hold” rating to a “sell” rating and set a $74.00 price target on the stock. in a report on Friday, August 30th. Finally, Bank of America lowered their price target on Fortive from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $82.87.
Shares of FTV stock traded down $0.56 during trading hours on Tuesday, reaching $70.03. 50,746 shares of the company traded hands, compared to its average volume of 1,620,145. Fortive has a 12-month low of $62.89 and a 12-month high of $89.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98. The company has a market cap of $22.82 billion, a P/E ratio of 22.84, a P/E/G ratio of 2.60 and a beta of 1.22. The firm has a 50-day moving average price of $71.23 and a 200 day moving average price of $79.36.
In related news, SVP Stacey A. Walker sold 34,446 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.70, for a total value of $2,435,332.20. Following the transaction, the senior vice president now directly owns 20,015 shares of the company’s stock, valued at approximately $1,415,060.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FTV. Artisan Partners Limited Partnership increased its stake in Fortive by 16.1% in the 1st quarter. Artisan Partners Limited Partnership now owns 4,757,642 shares of the technology company’s stock worth $399,119,000 after acquiring an additional 661,196 shares during the last quarter. Northern Trust Corp increased its stake in Fortive by 0.7% in the 2nd quarter. Northern Trust Corp now owns 4,346,853 shares of the technology company’s stock worth $354,356,000 after acquiring an additional 28,760 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Fortive by 23,241.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,906,599 shares of the technology company’s stock worth $318,466,000 after acquiring an additional 3,889,862 shares during the last quarter. Winslow Capital Management LLC increased its stake in Fortive by 7.7% in the 2nd quarter. Winslow Capital Management LLC now owns 2,398,305 shares of the technology company’s stock worth $195,509,000 after acquiring an additional 171,237 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Fortive by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 2,232,096 shares of the technology company’s stock valued at $181,961,000 after purchasing an additional 287,449 shares during the last quarter. 82.64% of the stock is currently owned by institutional investors.
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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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