Fortive Corp (FTV) Receives $86.73 Consensus PT from Analysts

Fortive Corp (NYSE:FTV) has been given an average recommendation of “Buy” by the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $86.73.

A number of equities research analysts have recently commented on FTV shares. Citigroup raised their price target on Fortive from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Morgan Stanley raised their price target on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 31st. Argus raised their price target on Fortive from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. UBS Group raised their price target on Fortive from $86.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Finally, Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, September 4th.

NYSE FTV opened at $72.80 on Thursday. The stock has a market cap of $24.31 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 2.01 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54. Fortive has a one year low of $69.03 and a one year high of $88.34.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, October 25th. The technology company reported $0.86 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. Fortive had a return on equity of 24.91% and a net margin of 15.72%. Research analysts anticipate that Fortive will post 3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 30th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. Fortive’s payout ratio is presently 9.69%.

In related news, VP Emily A. Weaver sold 9,271 shares of the stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $75.41, for a total transaction of $699,126.11. Following the completion of the transaction, the vice president now directly owns 9,279 shares in the company, valued at $699,729.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William W. Pringle sold 476 shares of the stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $73.18, for a total value of $34,833.68. Following the transaction, the insider now owns 28,639 shares of the company’s stock, valued at $2,095,802.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,382 shares of company stock valued at $10,729,598. 12.10% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of FTV. Ancora Advisors LLC bought a new position in shares of Fortive during the third quarter worth about $108,000. Fort L.P. bought a new position in shares of Fortive during the second quarter worth about $122,000. Stratos Wealth Partners LTD. bought a new position in shares of Fortive during the third quarter worth about $127,000. Flagship Harbor Advisors LLC bought a new position in shares of Fortive during the second quarter worth about $132,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Fortive by 5,816.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,775 shares of the technology company’s stock worth $137,000 after buying an additional 1,745 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

About Fortive

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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Analyst Recommendations for Fortive (NYSE:FTV)

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