Mizuho Lowers Fortive (NYSE:FTV) Price Target to $60.00

Fortive (NYSE:FTVGet Rating) had its price target lowered by Mizuho from $62.00 to $60.00 in a report published on Monday, The Fly reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other analysts also recently commented on FTV. Cowen dropped their price objective on Fortive from $80.00 to $70.00 and set a market perform rating on the stock in a research note on Thursday, June 2nd. Morgan Stanley dropped their price objective on Fortive from $67.00 to $64.00 and set an equal weight rating on the stock in a research note on Tuesday, May 31st. Wells Fargo & Company dropped their price objective on Fortive from $58.00 to $57.00 and set an equal weight rating on the stock in a research note on Tuesday, July 12th. StockNews.com started coverage on Fortive in a research note on Thursday, March 31st. They set a hold rating on the stock. Finally, Barclays dropped their price objective on Fortive from $74.00 to $68.00 and set an overweight rating on the stock in a research note on Friday, July 8th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $75.79.

Fortive Stock Performance

FTV stock opened at $54.27 on Monday. The business’s fifty day moving average is $57.47 and its 200-day moving average is $61.54. The company has a quick ratio of 0.74, a current ratio of 0.96 and a debt-to-equity ratio of 0.29. The company has a market cap of $19.45 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. Fortive has a twelve month low of $52.47 and a twelve month high of $79.87.

Fortive (NYSE:FTVGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. Fortive had a return on equity of 10.87% and a net margin of 12.32%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. Equities research analysts forecast that Fortive will post 3.04 EPS for the current year.

Insider Activity

In related news, Director Alan G. Spoon acquired 17,400 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was bought at an average price of $58.25 per share, for a total transaction of $1,013,550.00. Following the acquisition, the director now directly owns 98,861 shares of the company’s stock, valued at $5,758,653.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fortive

Several hedge funds have recently modified their holdings of FTV. Northwest Bancshares Inc. bought a new position in Fortive during the fourth quarter worth about $25,000. Howe & Rusling Inc. grew its holdings in Fortive by 103.9% during the first quarter. Howe & Rusling Inc. now owns 418 shares of the technology company’s stock worth $25,000 after purchasing an additional 213 shares during the period. Riverview Trust Co bought a new position in Fortive during the first quarter worth about $27,000. Crewe Advisors LLC bought a new position in Fortive during the fourth quarter worth about $31,000. Finally, Core Alternative Capital grew its holdings in Fortive by 74.3% during the first quarter. Core Alternative Capital now owns 502 shares of the technology company’s stock worth $31,000 after purchasing an additional 214 shares during the period. Institutional investors own 95.21% of the company’s stock.

Fortive Company Profile

(Get Rating)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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