Fortive (NYSE:FTV) Price Target Lowered to $90.00 at JPMorgan Chase & Co.

Fortive (NYSE:FTV) had its price objective decreased by JPMorgan Chase & Co. from $92.00 to $90.00 in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

FTV has been the subject of a number of other reports. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Truist Financial lifted their target price on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Barclays lowered their price objective on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada cut their target price 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and an average target price of $86.45.

Fortive Trading Up 0.4 %

Shares of FTV stock opened at $79.00 on Wednesday. Fortive has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $27.41 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 1.92 and a beta of 1.14. The stock has a 50-day moving average of $76.61 and a 200-day moving average of $74.76.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the business earned $0.85 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Fortive will post 3.84 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.41%. Fortive’s payout ratio is 12.75%.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s 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 transaction, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Fortive

Institutional investors have recently modified their holdings of the business. Private Advisor Group LLC lifted its holdings in shares of Fortive by 3.6% in the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock worth $308,000 after buying an additional 135 shares in the last quarter. Wedmont Private Capital increased its holdings in Fortive by 4.3% during the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock worth $252,000 after acquiring an additional 137 shares during the period. Patton Albertson Miller Group LLC increased its holdings in Fortive by 1.7% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock worth $699,000 after acquiring an additional 150 shares during the period. Andina Capital Management LLC lifted its stake in Fortive by 3.4% in the 3rd quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock worth $362,000 after purchasing an additional 152 shares in the last quarter. Finally, Axiom Advisory LLC boosted its holdings in Fortive by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 10,048 shares of the technology company’s stock valued at $734,000 after purchasing an additional 157 shares during the period. 94.94% of the stock is owned by institutional investors.

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.