Fortive (NYSE:FTV) PT Raised to $96.00

Fortive (NYSE:FTV) had its target price lifted by analysts at Barclays from $94.00 to $96.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective suggests a potential upside of 21.24% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Truist Financial decreased their target price on shares of Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company decreased their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research note on Thursday, September 5th. Finally, TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $86.38.

Fortive Stock Performance

FTV opened at $79.18 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The company has a market cap of $27.87 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 2.22 and a beta of 1.11. The company’s 50 day moving average is $72.39 and its 200 day moving average is $76.02. Fortive has a 12-month low of $63.05 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. On average, equities research analysts predict that Fortive will post 3.82 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Institutional Trading of Fortive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Indiana Trust & Investment Management CO purchased a new stake in Fortive during the 1st quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in Fortive during the 2nd quarter valued at $30,000. International Assets Investment Management LLC purchased a new stake in Fortive during the 2nd quarter valued at $30,000. Goodman Advisory Group LLC bought a new position in Fortive in the 2nd quarter valued at $31,000. Finally, Advisors Asset Management Inc. bought a new position in Fortive in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.