Fortive (NYSE:FTV) Price Target Increased to $97.00 by Analysts at Barclays

Fortive (NYSE:FTVFree Report) had its price target lifted by Barclays from $89.00 to $97.00 in a research report released on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the company. Truist Financial initiated coverage on Fortive in a research report on Thursday, March 14th. They set a buy rating and a $99.00 target price for the company. Wells Fargo & Company lifted their price objective on Fortive from $79.00 to $85.00 and gave the company an equal weight rating in a research report on Thursday, February 1st. Mizuho lifted their price objective on Fortive from $70.00 to $80.00 and gave the company a neutral rating in a research report on Thursday, February 1st. Vertical Research downgraded Fortive from a buy rating to a hold rating in a research report on Tuesday, January 2nd. Finally, StockNews.com upgraded Fortive from a hold rating to a buy rating in a research report on Friday, January 26th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Fortive currently has a consensus rating of Moderate Buy and a consensus target price of $85.46.

View Our Latest Research Report on FTV

Fortive Price Performance

Shares of FTV stock opened at $84.82 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $29.80 billion, a P/E ratio of 34.76, a P/E/G ratio of 2.71 and a beta of 1.13. Fortive has a 12 month low of $62.70 and a 12 month high of $87.10. The stock has a 50 day moving average of $83.26 and a two-hundred day moving average of $75.24.

Fortive (NYSE:FTVGet Free Report) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Fortive had a return on equity of 12.12% and a net margin of 14.27%. Fortive’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. As a group, equities analysts expect that Fortive will post 3.78 EPS for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, February 23rd were paid a $0.08 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.38%. Fortive’s dividend payout ratio (DPR) is currently 13.11%.

Insider Activity

In other news, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at approximately $5,336,849.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the completion of the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction on Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following the sale, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,937 shares of company stock valued at $5,475,122. Company insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Fortive

Institutional investors have recently made changes to their positions in the stock. HighPoint Advisor Group LLC bought a new position in Fortive during the fourth quarter worth about $180,000. PNC Financial Services Group Inc. lifted its holdings in Fortive by 1.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 138,643 shares of the technology company’s stock worth $10,208,000 after acquiring an additional 2,026 shares in the last quarter. Wahed Invest LLC lifted its holdings in Fortive by 8.5% during the fourth quarter. Wahed Invest LLC now owns 6,033 shares of the technology company’s stock worth $444,000 after acquiring an additional 471 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in Fortive during the fourth quarter worth about $48,000. Finally, Brown Shipley& Co Ltd lifted its holdings in Fortive by 7.4% during the fourth quarter. Brown Shipley& Co Ltd now owns 48,332 shares of the technology company’s stock worth $3,559,000 after acquiring an additional 3,310 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Company Profile

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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.

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Analyst Recommendations for Fortive (NYSE:FTV)

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