Fortive (NYSE:FTV)‘s stock had its “buy” rating restated by Argus in a research note issued on Tuesday, April 30th, 24/7 WallStreet reports.
A number of other brokerages have also issued reports on FTV. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Monday, April 22nd. ValuEngine upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Barclays lifted their price target on shares of Fortive from $81.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. BMO Capital Markets lifted their price target on shares of Fortive from $96.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, William Blair restated a “market perform” rating on shares of Fortive in a research note on Tuesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Fortive currently has a consensus rating of “Buy” and an average price target of $87.77.
NYSE FTV traded down $0.31 during mid-day trading on Tuesday, hitting $79.59. The company’s stock had a trading volume of 1,651,545 shares, compared to its average volume of 1,440,355. Fortive has a 52-week low of $62.89 and a 52-week high of $89.48. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.97 and a current ratio of 2.20. The firm has a market capitalization of $26.59 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.72 and a beta of 1.13.
Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.69. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.63 billion. Fortive had a net margin of 39.98% and a return on equity of 19.44%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. Sell-side analysts forecast that Fortive will post 3.6 EPS for the current fiscal year.
In other Fortive news, SVP Barbara B. Hulit sold 11,386 shares of Fortive stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $86.16, for a total value of $981,017.76. Following the completion of the transaction, the senior vice president now owns 48,891 shares of the company’s stock, valued at $4,212,448.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jonathan L. Schwarz sold 3,746 shares of Fortive stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $81.63, for a total transaction of $305,785.98. Following the completion of the transaction, the vice president now directly owns 17,740 shares of the company’s stock, valued at approximately $1,448,116.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,684 shares of company stock valued at $3,213,523. 12.70% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Kentucky Retirement Systems acquired a new position in shares of Fortive during the fourth quarter valued at $865,000. Great Lakes Advisors LLC boosted its holdings in shares of Fortive by 20.0% during the third quarter. Great Lakes Advisors LLC now owns 4,516 shares of the technology company’s stock valued at $380,000 after acquiring an additional 754 shares during the period. Deutsche Bank AG boosted its holdings in shares of Fortive by 79.0% during the fourth quarter. Deutsche Bank AG now owns 827,194 shares of the technology company’s stock valued at $55,963,000 after acquiring an additional 365,059 shares during the period. Vanguard Group Inc boosted its holdings in shares of Fortive by 0.9% during the third quarter. Vanguard Group Inc now owns 22,405,241 shares of the technology company’s stock valued at $1,890,330,000 after acquiring an additional 203,786 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of Fortive by 2.4% during the fourth quarter. Brown Advisory Inc. now owns 6,321,632 shares of the technology company’s stock valued at $427,722,000 after acquiring an additional 146,763 shares during the period. 84.70% of the stock is owned by institutional investors.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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