JPMorgan Chase & Co. Raises Fortive (NYSE:FTV) Price Target to $63.00

Fortive (NYSE:FTV) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $57.00 to $63.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 7.14% from the company’s previous close.

A number of other brokerages also recently commented on FTV. Wells Fargo & Company upped their target price on Fortive from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Morgan Stanley increased their price objective on Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Mizuho restated an “underperform” rating and set a $51.00 price target (down from $54.00) on shares of Fortive in a research report on Monday, January 5th. Finally, Barclays raised their price objective on shares of Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a research note on Monday. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.85.

Fortive Price Performance

Shares of FTV traded down $3.12 during trading hours on Wednesday, reaching $58.80. 6,050,582 shares of the stock traded hands, compared to its average volume of 4,120,413. The company has a market cap of $18.68 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 3.28 and a beta of 1.12. Fortive has a 52-week low of $46.34 and a 52-week high of $83.32. The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $55.24 and its two-hundred day moving average price is $51.45.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, February 4th. The technology company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, analysts anticipate that Fortive will post 4.05 earnings per share for the current year.

Institutional Trading of Fortive

Several hedge funds and other institutional investors have recently bought and sold shares of FTV. True Wealth Design LLC lifted its stake in shares of Fortive by 815.4% during the 2nd quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock worth $25,000 after purchasing an additional 424 shares during the period. Quent Capital LLC acquired a new position in Fortive during the third quarter valued at approximately $28,000. Root Financial Partners LLC increased its holdings in Fortive by 43.6% in the 4th quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after purchasing an additional 168 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Fortive by 46.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after buying an additional 236 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 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.