Fortive (NYSE:FTV) Given Underperform Rating at Mizuho

Mizuho reiterated their underperform rating on shares of Fortive (NYSE:FTV) in a report published on Monday morning, MarketBeat Ratings reports. Mizuho currently has a $51.00 target price on the technology company’s stock, down from their previous target price of $54.00.

FTV has been the topic of a number of other reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Robert W. Baird raised their price objective on Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Wells Fargo & Company boosted their target price on shares of Fortive from $55.00 to $59.00 and gave the stock an “equal weight” rating in a report on Monday, December 22nd. Morgan Stanley raised their price target on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Finally, Citigroup boosted their price objective on shares of Fortive from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $57.62.

Fortive Stock Down 2.8%

NYSE:FTV opened at $53.82 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.58. The firm has a market cap of $17.09 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 3.11 and a beta of 1.13. The company has a 50-day moving average of $53.13 and a 200 day moving average of $51.58. Fortive has a 1-year low of $46.34 and a 1-year high of $83.32.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The business had revenue of $1.07 billion during the quarter. As a group, research analysts anticipate that Fortive will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were paid a $0.06 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Fortive’s dividend payout ratio (DPR) is 13.71%.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the transaction, the senior vice president owned 59,488 shares in the company, valued at approximately $2,995,220.80. This represents a 3.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Fortive

A number of large investors have recently made changes to their positions in FTV. Assenagon Asset Management S.A. raised its stake in Fortive by 56.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 77,550 shares of the technology company’s stock valued at $3,799,000 after purchasing an additional 27,908 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Fortive by 14.0% during the third quarter. Voya Investment Management LLC now owns 507,055 shares of the technology company’s stock worth $24,841,000 after buying an additional 62,127 shares in the last quarter. Whittier Trust Co. raised its position in shares of Fortive by 6.8% in the second quarter. Whittier Trust Co. now owns 354,784 shares of the technology company’s stock valued at $18,494,000 after buying an additional 22,443 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Fortive by 2.2% in the second quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock valued at $2,054,644,000 after buying an additional 839,321 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Fortive by 0.7% in the second quarter. State Street Corp now owns 14,157,168 shares of the technology company’s stock worth $738,013,000 after buying an additional 92,222 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.