Fortive (NYSE:FTV – Get Free Report) had its target price lowered by analysts at Mizuho from $70.00 to $66.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Mizuho’s price objective suggests a potential upside of 1.49% from the company’s current price.
A number of other brokerages have also weighed in on FTV. Robert W. Baird increased their price objective on Fortive from $82.00 to $85.00 in a report on Thursday, July 27th. BNP Paribas started coverage on Fortive in a report on Thursday, October 5th. They set an “outperform” rating and a $91.00 target price on the stock. TD Cowen raised their target price on Fortive from $70.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, August 23rd. UBS Group raised their target price on Fortive from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Finally, Citigroup raised their target price on Fortive from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $78.46.
Fortive Trading Down 0.1 %
Fortive (NYSE:FTV – Get Free Report) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.52 billion. Fortive had a net margin of 13.77% and a return on equity of 11.96%. On average, research analysts predict that Fortive will post 3.4 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Fortive
A number of hedge funds have recently bought and sold shares of FTV. Summit Trail Advisors LLC lifted its position in shares of Fortive by 5.9% in the second quarter. Summit Trail Advisors LLC now owns 5,603 shares of the technology company’s stock valued at $419,000 after acquiring an additional 310 shares in the last quarter. Simplicity Solutions LLC purchased a new position in shares of Fortive in the first quarter valued at approximately $340,000. Bank of New York Mellon Corp lifted its position in shares of Fortive by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 2,690,395 shares of the technology company’s stock valued at $183,404,000 after acquiring an additional 39,664 shares in the last quarter. Signaturefd LLC lifted its position in shares of Fortive by 7.1% in the first quarter. Signaturefd LLC now owns 3,750 shares of the technology company’s stock valued at $256,000 after acquiring an additional 248 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Fortive by 14.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 162,540 shares of the technology company’s stock valued at $10,872,000 after acquiring an additional 20,175 shares in the last quarter. Hedge funds and other institutional investors own 95.95% of the company’s stock.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.
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