Fortive (NYSE:FTV) Stock Price Target Cut by Royal Bank Of Canada

Fortive (NYSE:FTV) had its target price cut by stock analysts at Royal Bank Of Canada from $63.00 to $59.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 2.18% from the stock’s current price.

Other analysts have also issued reports about the stock. Evercore assumed coverage on shares of Fortive in a research report on Monday, September 28th. They issued a “hold” rating and a $60.00 price target for the company. JPMorgan Chase & Co. dropped their target price on Fortive from $64.00 to $56.00 and set an “underweight” rating on the stock in a research report on Friday, October 9th. Weiss Ratings cut Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. Argus reiterated a “buy” rating and issued a $68.00 target price on shares of Fortive in a research note on Wednesday, August 19th. Finally, Truist Financial cut their target price on Fortive from $68.00 to $63.00 and set a “hold” rating on the stock in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Fortive currently has an average rating of “Hold” and a consensus price target of $61.27.

Fortive Trading Down 0.6%

Shares of FTV opened at $57.74 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. Fortive has a 1-year low of $48.10 and a 1-year high of $64.56. The stock has a market capitalization of $17.44 billion, a P/E ratio of 34.17, a P/E/G ratio of 2.38 and a beta of 1.07. The business’s 50-day moving average price is $57.83 and its 200 day moving average price is $59.32.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $1.10 billion during 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 company’s revenue 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. Analysts expect that Fortive will post 3.02 earnings per share for the current year.

Insider Transactions at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,872,877.62. This trade represents a 9.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is owned by company insiders.

Institutional Trading of Fortive

A number of large investors have recently bought and sold shares of the stock. Copeland Capital Management LLC bought a new stake in shares of Fortive in the 3rd quarter worth about $186,000. Dakota Community Bank & Trust NA raised its stake in shares of Fortive by 42.9% in the third quarter. Dakota Community Bank & Trust NA now owns 1,002 shares of the technology company’s stock valued at $55,000 after acquiring an additional 301 shares during the last quarter. GAMMA Investing LLC grew its position in Fortive by 20.2% during the 3rd quarter. GAMMA Investing LLC now owns 4,728 shares of the technology company’s stock worth $259,000 after acquiring an additional 793 shares during the last quarter. North Point Portfolio Managers Corp OH bought a new stake in shares of Fortive during the third quarter worth $44,000. Finally, QRG Capital Management Inc. raised its holdings in shares of Fortive by 13.8% in the second quarter. QRG Capital Management Inc. now owns 17,973 shares of the technology company’s stock valued at $1,098,000 after buying an additional 2,175 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Company Profile

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides connected products, software, and services for customers in healthcare, manufacturing, infrastructure, and other regulated or asset-intensive industries. Its offerings are designed to improve productivity, operating efficiency, safety, compliance, and the reliability of critical equipment and processes.

The company’s businesses have included electronic test and measurement instruments, calibration and asset-management solutions, workplace and public-safety products, industrial software, and healthcare technologies.