Fortive (NYSE:FTV) Upgraded to Outperform at Mizuho

Mizuho upgraded shares of Fortive (NYSE:FTV) from a neutral rating to an outperform rating in a research report report published on Friday, MarketBeat reports. Mizuho currently has $90.00 price objective on the technology company’s stock, up from their prior price objective of $80.00.

FTV has been the subject of a number of other research reports. Barclays dropped their target price on Fortive from $93.00 to $91.00 and set an overweight rating for the company in a research report on Thursday, July 25th. TD Cowen raised shares of Fortive from a hold rating to a buy rating and upped their price objective for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Raymond James raised shares of Fortive from a market perform rating to an outperform rating and set a $85.00 target price on the stock in a report on Thursday. Wells Fargo & Company lowered their price target on shares of Fortive from $84.00 to $75.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Finally, Truist Financial reduced their price objective on Fortive from $89.00 to $82.00 and set a buy rating on the stock in a research note on Thursday, July 25th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $86.23.

Fortive Price Performance

Shares of NYSE:FTV opened at $70.67 on Friday. The company’s fifty day moving average price is $72.23 and its 200-day moving average price is $77.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 2.17 and a beta of 1.12. Fortive has a one year low of $63.05 and a one year high of $87.10.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts anticipate that Fortive will post 3.82 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. Fortive’s dividend payout ratio is currently 12.65%.

Institutional Trading of Fortive

A number of institutional investors have recently modified their holdings of the company. Brown Advisory Inc. boosted its holdings in shares of Fortive by 13.1% during the fourth quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock worth $557,929,000 after purchasing an additional 878,523 shares during the period. Boston Partners lifted its holdings in Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after buying an additional 1,045,245 shares during the period. Janus Henderson Group PLC lifted its holdings in Fortive by 47.1% in the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after buying an additional 1,999,792 shares during the period. Capital World Investors lifted its holdings in Fortive by 0.6% in the fourth quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock worth $430,568,000 after buying an additional 33,990 shares during the period. Finally, Norges Bank purchased a new stake in Fortive in the fourth quarter worth about $268,686,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.