Analysts Set Fortive Corporation (NYSE:FTV) PT at $63.10

Fortive Corporation (NYSE:FTV) has received a consensus recommendation of “Hold” from the twelve analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $63.10.

A number of equities research analysts have weighed in on FTV shares. Royal Bank Of Canada raised their target price on Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, May 12th. Wells Fargo & Company upped their price objective on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Argus restated a “buy” rating and issued a $68.00 price target on shares of Fortive in a research note on Wednesday, August 19th. Finally, Citigroup lifted their price target on shares of Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $61.59, for a total transaction of $533,492.58. Following the completion of the transaction, the senior vice president directly owned 79,118 shares in the company, valued at approximately $4,872,877.62. This represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fortive

Hedge funds have recently modified their holdings of the company. DV Equities LLC bought a new position in Fortive in the fourth quarter valued at about $25,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Fortive in the second quarter valued at approximately $30,000. Virtus Advisers LLC acquired a new position in shares of Fortive in the second quarter valued at approximately $30,000. Geneos Wealth Management Inc. raised its holdings in Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after buying an additional 357 shares during the last quarter. Finally, Root Financial Partners LLC raised 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 buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

Shares of NYSE:FTV opened at $60.14 on Monday. The firm has a 50 day moving average of $61.16 and a 200-day moving average of $59.43. Fortive has a 12 month low of $46.54 and a 12 month high of $64.56. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $18.16 billion, a PE ratio of 35.59, a PEG ratio of 2.49 and a beta of 1.06.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The business 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 revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, equities research analysts predict that Fortive will post 3.02 EPS for the current fiscal year.

Fortive announced that its Board of Directors has authorized a share repurchase plan on Monday, May 4th that authorizes the company to repurchase 20,000,000 outstanding shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Fortive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Fortive’s previous quarterly dividend of $0.06. Fortive’s payout ratio is currently 14.20%.

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.