Fortive Corporation (NYSE:FTV) Stock Has Consensus Price Target of $64.36 According to Analysts

Shares of Fortive Corporation (NYSE:FTV) have received an average recommendation of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $64.36.

A number of research firms have recently weighed in on FTV. Argus reissued a “buy” rating and issued a $68.00 price objective on shares of Fortive in a research report on Wednesday, August 19th. JPMorgan Chase & Co. upped their target price on Fortive from $56.00 to $59.00 and gave the company an “underweight” rating in a research report on Thursday, October 29th. Royal Bank Of Canada upped their target price on Fortive from $59.00 to $68.00 and gave the company a “sector perform” rating in a research report on Thursday. Mizuho set a $55.00 price target on Fortive in a report on Thursday. Finally, Truist Financial reissued a “hold” rating and issued a $65.00 price target (up from $63.00) on shares of Fortive in a report on Thursday.

Insider Activity at Fortive

In other Fortive news, SVP Peter Underwood sold 48,442 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $64.60, for a total transaction of $3,129,353.20. Following the sale, the senior vice president owned 79,118 shares of the company’s stock, valued at approximately $5,111,022.80. The trade was a 37.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher M. Mulhall sold 17,962 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $65.56, for a total transaction of $1,177,588.72. Following the sale, the chief accounting officer directly owned 44,598 shares in the company, valued at approximately $2,923,844.88. This represents a 28.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 83,159 shares of company stock valued at $5,371,093 over the last ninety days. 0.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arkadios Wealth Advisors raised its position in shares of Fortive by 2.1% in the first quarter. Arkadios Wealth Advisors now owns 9,047 shares of the technology company’s stock worth $500,000 after acquiring an additional 187 shares during the period. Mather Group LLC. boosted its stake in shares of Fortive by 86.8% during the 3rd quarter. Mather Group LLC. now owns 467 shares of the technology company’s stock worth $26,000 after acquiring an additional 217 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Fortive by 2.0% during the 2nd quarter. Baird Financial Group Inc. now owns 11,127 shares of the technology company’s stock valued at $680,000 after acquiring an additional 222 shares during the period. First Citizens Bank & Trust Co. grew its position in shares of Fortive by 4.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 5,604 shares of the technology company’s stock valued at $310,000 after acquiring an additional 224 shares during the period. Finally, Dakota Community Bank & Trust NA increased its stake in shares of Fortive by 59.2% in the 1st quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company’s stock valued at $39,000 after purchasing an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 2.4%

NYSE:FTV opened at $66.77 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.23. The stock has a market capitalization of $20.16 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.57 and a beta of 1.07. The company’s 50-day simple moving average is $57.90 and its 200-day simple moving average is $58.71. Fortive has a fifty-two week low of $49.03 and a fifty-two week high of $67.30.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, October 28th. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Fortive had a net margin of 14.83% and a return on equity of 15.79%. Fortive’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, equities analysts anticipate that Fortive will post 3.12 earnings per share for the current fiscal year.

Fortive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.4%. This is an increase from Fortive’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, September 4th. Fortive’s dividend payout ratio is currently 13.33%.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company that develops and provides products, software and services designed to improve the productivity, safety, reliability and efficiency of businesses and public-sector organizations. Its offerings support customers in industries including manufacturing, healthcare, utilities, transportation, commercial facilities and government.

The company’s portfolio includes electronic test and measurement equipment, calibration and asset-management solutions, workplace and facility-management software, engineering and infrastructure software, product identification and traceability systems, and healthcare technology.