Fortive (NYSE:FTV) Coverage Initiated by Analysts at UBS Group

UBS Group started coverage on shares of Fortive (NYSE:FTV) in a research report released on Wednesday, MarketBeat reports. The firm issued a neutral rating and a $84.00 price objective on the technology company’s stock.

Several other equities analysts have also recently weighed in on FTV. Wells Fargo & Company cut their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada cut their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Truist Financial lowered their price objective on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Friday, November 1st. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and a consensus target price of $87.82.

Fortive Price Performance

FTV opened at $76.19 on Wednesday. The company has a fifty day moving average price of $75.39 and a two-hundred day moving average price of $74.18. The firm has a market capitalization of $26.43 billion, a PE ratio of 30.35, a P/E/G ratio of 2.06 and a beta of 1.13. Fortive has a 52 week low of $66.15 and a 52 week high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. Fortive’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. As a group, analysts anticipate that Fortive will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio is currently 12.75%.

Insider Transactions at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,895 shares of company stock worth $14,261,051 in the last ninety days. Insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Fortive in the third quarter valued at about $25,000. Ridgewood Investments LLC acquired a new stake in Fortive in the 2nd quarter worth about $30,000. International Assets Investment Management LLC bought a new stake in Fortive in the 2nd quarter valued at about $30,000. Goodman Advisory Group LLC bought a new stake in shares of Fortive in the second quarter valued at approximately $31,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Fortive during the 1st quarter worth $32,000. 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.