Barclays Lowers Fortive (NYSE:FTV) Price Target to $93.00

Fortive (NYSE:FTV) had its price objective cut by Barclays from $97.00 to $93.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other analysts have also issued research reports about the company. StockNews.com raised Fortive from a hold rating to a buy rating in a research note on Monday, May 13th. Wells Fargo & Company decreased their price target on Fortive from $84.00 to $75.00 and set an equal weight rating on the stock in a research note on Wednesday. Truist Financial reduced their price objective on Fortive from $96.00 to $89.00 and set a buy rating on the stock in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. lowered Fortive from an overweight rating to a neutral rating and reduced their price objective for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Finally, Citigroup reduced their price objective on Fortive from $101.00 to $98.00 and set a buy rating on the stock in a research note on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fortive currently has a consensus rating of Moderate Buy and a consensus target price of $86.08.

Fortive Stock Performance

FTV opened at $75.59 on Wednesday. The stock’s 50 day simple moving average is $74.46 and its 200-day simple moving average is $78.18. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. The stock has a market cap of $26.61 billion, a PE ratio of 29.88, a P/E/G ratio of 2.16 and a beta of 1.12. Fortive has a 1 year low of $63.05 and a 1 year high of $87.10.

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 business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. Sell-side analysts forecast that Fortive will post 3.81 EPS for the current year.

Institutional Investors Weigh In On Fortive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTV. Comerica Bank increased its holdings in Fortive by 815.7% in the third quarter. Comerica Bank now owns 104,618 shares of the technology company’s stock valued at $7,759,000 after purchasing an additional 93,193 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Fortive by 11.8% in the third quarter. Public Sector Pension Investment Board now owns 37,708 shares of the technology company’s stock valued at $2,796,000 after purchasing an additional 3,981 shares during the last quarter. Deutsche Bank AG increased its holdings in Fortive by 7.6% in the third quarter. Deutsche Bank AG now owns 760,771 shares of the technology company’s stock valued at $56,419,000 after purchasing an additional 53,849 shares during the last quarter. Modera Wealth Management LLC increased its holdings in Fortive by 25.9% in the third quarter. Modera Wealth Management LLC now owns 4,106 shares of the technology company’s stock valued at $305,000 after purchasing an additional 845 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Fortive by 5.9% in the third quarter. American Century Companies Inc. now owns 2,249,328 shares of the technology company’s stock valued at $166,810,000 after purchasing an additional 125,515 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Company Profile

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.