Fortive Corporation (NYSE:FTV) Given Average Rating of “Hold” by Analysts

Shares of Fortive Corporation (NYSE:FTV) have been given a consensus rating of “Hold” by the twelve research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $63.10.

FTV has been the topic of several recent analyst reports. Argus reissued a “buy” rating and issued a $68.00 target price on shares of Fortive in a research note on Wednesday, August 19th. Weiss Ratings cut shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. Morgan Stanley upped their price target on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Finally, Truist Financial reissued a “hold” rating and issued a $68.00 price objective (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $61.59, for a total value of $533,492.58. Following the sale, 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 SEC, which can be accessed through the SEC website. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fortive

Several hedge funds have recently bought and sold shares of the business. Eurizon Capital SGR S.p.A. purchased a new position in shares of Fortive in the 4th quarter worth approximately $20,387,000. WINTON GROUP Ltd bought a new position in shares of Fortive during the 4th quarter worth approximately $6,729,000. ABN Amro Investment Solutions purchased a new stake in Fortive during the fourth quarter valued at approximately $1,229,000. Arrowstreet Capital Limited Partnership purchased a new stake in Fortive during the first quarter valued at approximately $11,854,000. Finally, Hsbc Holdings PLC boosted its stake in Fortive by 7.0% in the fourth quarter. Hsbc Holdings PLC now owns 2,026,810 shares of the technology company’s stock valued at $112,066,000 after acquiring an additional 133,447 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Performance

NYSE FTV opened at $56.31 on Friday. The company has a market cap of $17.01 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24. The business’s 50 day moving average price is $59.78 and its 200-day moving average price is $59.34. Fortive has a fifty-two week low of $47.31 and a fifty-two week high of $64.56.

Fortive (NYSE:FTV) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $1.07 billion. Fortive had a return on equity of 15.33% and a net margin of 12.38%.Fortive’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Sell-side analysts predict that Fortive will post 3.02 earnings per share for the current year.

Fortive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.07 per share. This is a positive change from Fortive’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. Fortive’s payout ratio is currently 16.57%.

About Fortive

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides essential products, software and services for customers in healthcare, manufacturing, utilities, commercial facilities and other professional markets. Its businesses focus on improving workplace productivity, safety, compliance, asset performance and operational efficiency.

Fortive’s portfolio has included brands such as Fluke, Tektronix, Industrial Scientific, Accruent, Gordian, Provation and ASP.