Fortive Co. (NYSE:FTV) Receives $84.91 Consensus Target Price from Analysts

Shares of Fortive Co. (NYSE:FTV) have been assigned an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $84.91.

A number of equities analysts have issued reports on the company. Truist Financial lowered their price target on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank of Canada decreased their target price on Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 25th. Finally, Citigroup decreased their target price on Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th.

Institutional Investors Weigh In On Fortive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc increased its stake in Fortive by 3.6% during the second quarter. TD Asset Management Inc now owns 864,924 shares of the technology company’s stock worth $64,091,000 after acquiring an additional 30,234 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Fortive by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 30,206 shares of the technology company’s stock worth $2,238,000 after acquiring an additional 200 shares during the last quarter. Klingenstein Fields & Co. LP increased its stake in Fortive by 1.8% during the second quarter. Klingenstein Fields & Co. LP now owns 293,897 shares of the technology company’s stock worth $21,778,000 after acquiring an additional 5,296 shares during the last quarter. Versor Investments LP purchased a new position in shares of Fortive during the second quarter worth $749,000. Finally, Crestwood Advisors Group LLC boosted its position in shares of Fortive by 2.6% during the second quarter. Crestwood Advisors Group LLC now owns 538,704 shares of the technology company’s stock worth $39,918,000 after buying an additional 13,860 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of FTV stock opened at $68.44 on Friday. The stock has a market cap of $23.98 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 2.06 and a beta of 1.12. The business has a 50-day simple moving average of $73.44 and a 200-day simple moving average of $78.35. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. Fortive has a 52-week low of $63.05 and a 52-week high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings results 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 return on equity of 12.32% and a net margin of 14.39%. Fortive’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, equities analysts expect that Fortive will post 3.82 EPS for the current year.

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.