Fortive Corporation (NYSE:FTV) Receives $57.77 Average Target Price from Analysts

Fortive Corporation (NYSE:FTV) has been assigned an average recommendation of “Hold” from the fifteen research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $57.7692.

Several research firms have recently commented on FTV. Truist Financial restated a “hold” rating and issued a $58.00 target price (up previously from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Barclays increased their price target on shares of Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Fortive in a report on Friday, January 16th. Robert W. Baird boosted their target price on Fortive from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Finally, Citigroup raised their price target on Fortive from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, December 8th.

Fortive Stock Down 0.6%

Fortive stock opened at $52.77 on Thursday. The stock has a 50 day moving average of $54.46 and a two-hundred day moving average of $51.06. Fortive has a twelve month low of $46.34 and a twelve month high of $83.32. The stock has a market capitalization of $16.76 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.98 and a beta of 1.13. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.58 by $0.10. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Fortive will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, November 28th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Fortive’s dividend payout ratio (DPR) is 13.71%.

Hedge Funds Weigh In On Fortive

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC grew its position in Fortive by 97.1% during the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after buying an additional 2,811 shares during the period. Empowered Funds LLC lifted its position in shares of Fortive by 6.9% during the 1st quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock valued at $484,000 after acquiring an additional 430 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after acquiring an additional 357 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Fortive by 13.6% in the 2nd quarter. Signaturefd LLC now owns 4,661 shares of the technology company’s stock worth $243,000 after acquiring an additional 558 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in Fortive by 8.2% in the 2nd quarter. V Square Quantitative Management LLC now owns 10,096 shares of the technology company’s stock valued at $526,000 after purchasing an additional 763 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.