Fortive (NYSE:FTV) Given a $74.00 Price Target at Credit Suisse Group

Fortive (NYSE:FTVGet Rating) received a $74.00 target price from Credit Suisse Group in a report released on Tuesday, Stock Target Advisor reports. Credit Suisse Group’s price objective suggests a potential upside of 29.39% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Barclays dropped their price target on shares of Fortive from $74.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. Cowen decreased their price objective on shares of Fortive from $80.00 to $70.00 in a research note on Thursday, June 2nd. Loop Capital decreased their price objective on shares of Fortive from $84.00 to $78.00 and set a “buy” rating for the company in a research note on Tuesday. Mizuho decreased their price objective on shares of Fortive from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Morgan Stanley decreased their price objective on shares of Fortive from $67.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 31st. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.93.

Fortive Stock Performance

Shares of Fortive stock opened at $57.19 on Tuesday. The company has a market cap of $20.50 billion, a P/E ratio of 31.77, a PEG ratio of 1.90 and a beta of 1.11. The business has a 50-day moving average price of $57.42 and a two-hundred day moving average price of $61.47. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 0.29. Fortive has a 1-year low of $52.47 and a 1-year high of $79.87.

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

Insiders Place Their Bets

In related news, Director Alan G. Spoon purchased 17,400 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were purchased at an average cost of $58.25 per share, for a total transaction of $1,013,550.00. Following the completion of the transaction, the director now directly owns 98,861 shares in the company, valued at approximately $5,758,653.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fortive

Several hedge funds have recently bought and sold shares of the company. BerganKDV Wealth Management LLC grew its stake in Fortive by 11.3% during the fourth quarter. BerganKDV Wealth Management LLC now owns 1,481 shares of the technology company’s stock valued at $113,000 after acquiring an additional 150 shares in the last quarter. Zions Bancorporation N.A. grew its stake in Fortive by 21.8% during the first quarter. Zions Bancorporation N.A. now owns 977 shares of the technology company’s stock valued at $59,000 after acquiring an additional 175 shares in the last quarter. Regentatlantic Capital LLC grew its stake in Fortive by 5.5% during the first quarter. Regentatlantic Capital LLC now owns 3,444 shares of the technology company’s stock valued at $210,000 after acquiring an additional 180 shares in the last quarter. Kinneret Advisory LLC grew its stake in Fortive by 2.3% during the first quarter. Kinneret Advisory LLC now owns 8,323 shares of the technology company’s stock valued at $507,000 after acquiring an additional 186 shares in the last quarter. Finally, Bull Street Advisors LLC grew its stake in Fortive by 1.0% in the 1st quarter. Bull Street Advisors LLC now owns 18,477 shares of the technology company’s stock worth $1,126,000 after buying an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Fortive Company Profile

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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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