JPMorgan Chase & Co. Boosts Fortive (NYSE:FTV) Price Target to $68.00

Fortive (NYSE:FTVGet Rating) had its target price increased by JPMorgan Chase & Co. from $60.00 to $68.00 in a research note issued to investors on Friday morning, The Fly reports. The brokerage currently has a maintains rating on the technology company’s stock.

Several other brokerages have also recently commented on FTV. Barclays cut 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 cut their price target on shares of Fortive from $80.00 to $70.00 and set a market perform rating on the stock in a research report on Thursday, June 2nd. Mizuho cut their price target on shares of Fortive from $62.00 to $60.00 and set a neutral rating on the stock in a research report on Monday, July 18th. Morgan Stanley boosted their price target on shares of Fortive from $64.00 to $68.00 and gave the stock an equal weight rating in a research report on Friday. Finally, Wells Fargo & Company dropped their target price on shares of Fortive from $58.00 to $57.00 and set an equal weight rating on the stock in a report on Tuesday, July 12th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $70.71.

Fortive Price Performance

Shares of NYSE FTV opened at $64.43 on Friday. The firm has a market cap of $23.09 billion, a PE ratio of 35.79, a PEG ratio of 2.22 and a beta of 1.16. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 0.28. Fortive has a 1-year low of $52.47 and a 1-year high of $79.87. The company has a fifty day moving average price of $57.78 and a 200 day moving average price of $60.62.

Fortive (NYSE:FTVGet Rating) last announced its earnings results on Thursday, July 28th. The technology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. Fortive had a net margin of 11.86% and a return on equity of 11.25%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. Research analysts predict that Fortive will post 3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Northwest Bancshares Inc. bought a new position in Fortive in the 4th quarter valued at about $25,000. Howe & Rusling Inc. raised its holdings in Fortive by 103.9% in the 1st quarter. Howe & Rusling Inc. now owns 418 shares of the technology company’s stock valued at $25,000 after acquiring an additional 213 shares during the period. Riverview Trust Co bought a new position in Fortive in the 1st quarter valued at about $27,000. Investors Asset Management of Georgia Inc. GA ADV bought a new position in Fortive in the 2nd quarter valued at about $27,000. Finally, Crewe Advisors LLC acquired a new position in shares of Fortive during the 4th quarter worth approximately $31,000. 95.21% of the stock is owned by institutional investors.

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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