Fortive Co. (NYSE:FTV) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Fortive Co. (NYSE:FTV) have received a consensus rating of “Hold” from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $86.46.

Several equities analysts have commented on the stock. Truist Financial started coverage on shares of Fortive in a research note on Thursday, March 14th. They issued a “buy” rating and a $99.00 price target on the stock. Mizuho increased their price objective on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Barclays increased their price objective on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company decreased their price objective on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a report on Thursday.

Insider Buying and Selling

In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the transaction, the chief financial officer now owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the transaction, the chief financial officer now owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tamara S. Newcombe sold 5,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the transaction, the chief executive officer now owns 55,017 shares of the company’s stock, valued at approximately $4,676,445. The disclosure for this sale can be found here. Insiders sold a total of 63,937 shares of company stock valued at $5,475,122 over the last three months. 0.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FTV. Norges Bank purchased a new position in Fortive in the fourth quarter worth $268,686,000. Brown Advisory Inc. raised its position in Fortive by 13.1% in the fourth quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock worth $557,929,000 after acquiring an additional 878,523 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Fortive by 15,382.4% in the fourth quarter. Panagora Asset Management Inc. now owns 634,778 shares of the technology company’s stock valued at $46,739,000 after buying an additional 630,678 shares in the last quarter. Jennison Associates LLC increased its position in shares of Fortive by 111.7% in the fourth quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company’s stock valued at $86,637,000 after buying an additional 620,866 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new position in shares of Fortive in the fourth quarter valued at $45,557,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.2 %

FTV stock opened at $76.21 on Friday. The company’s 50 day moving average price is $84.00 and its 200 day moving average price is $76.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.75 and a current ratio of 2.05. Fortive has a fifty-two week low of $62.70 and a fifty-two week high of $87.10. The firm has a market capitalization of $26.83 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.47 and a beta of 1.13.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. Fortive had a net margin of 14.27% and a return on equity of 12.12%. On average, equities research analysts anticipate that Fortive will post 3.78 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, May 31st. Fortive’s dividend payout ratio is presently 13.11%.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.