Fortive (NYSE:FTV) Earns Hold Rating from Truist Financial

Fortive (NYSE:FTV)‘s stock had its “hold” rating restated by equities research analysts at Truist Financial in a research note issued to investors on Thursday,Benzinga reports. They presently have a $68.00 target price on the technology company’s stock, up from their previous target price of $67.00. Truist Financial’s target price would indicate a potential upside of 14.68% from the stock’s previous close.

A number of other brokerages also recently commented on FTV. Wells Fargo & Company raised their price objective on shares of Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortive in a research report on Friday, May 22nd. JPMorgan Chase & Co. increased their price objective on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Monday, May 11th. Finally, Royal Bank Of Canada boosted their price objective on shares of Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.10.

Fortive Trading Up 1.4%

NYSE FTV opened at $59.30 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.57 and a current ratio of 1.24. The firm has a market cap of $17.91 billion, a price-to-earnings ratio of 35.09 and a beta of 1.06. The firm has a 50 day simple moving average of $61.01 and a 200-day simple moving average of $58.72. Fortive has a one year low of $46.34 and a one year high of $64.56.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Equities research analysts anticipate that Fortive will post 2.99 EPS for the current fiscal year.

Fortive announced that its Board of Directors has authorized a stock buyback plan on Monday, May 4th that permits the company to repurchase 20,000,000 outstanding shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Fortive

In related news, SVP Peter C. Underwood sold 47,557 shares of Fortive stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $60.81, for a total value of $2,891,941.17. Following the sale, the senior vice president directly owned 87,780 shares in the company, valued at $5,337,901.80. The trade was a 35.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fortive

Institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC raised its position in shares of Fortive by 43.6% in the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after buying an additional 168 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in Fortive by 2.1% in the 1st quarter. Arkadios Wealth Advisors now owns 9,047 shares of the technology company’s stock valued at $500,000 after acquiring an additional 187 shares during the last quarter. Rothschild Investment LLC raised its holdings in Fortive by 20.5% in the 4th quarter. Rothschild Investment LLC now owns 1,113 shares of the technology company’s stock valued at $61,000 after acquiring an additional 189 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Fortive by 2.3% during the 4th quarter. Empowered Funds LLC now owns 8,733 shares of the technology company’s stock worth $482,000 after purchasing an additional 197 shares during the period. Finally, Clearstead Trust LLC lifted its stake in shares of Fortive by 29.8% during the 4th quarter. Clearstead Trust LLC now owns 953 shares of the technology company’s stock worth $53,000 after purchasing an additional 219 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

About Fortive

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.