Fortive (NYSE:FTV) Upgraded at Weiss Ratings

Weiss Ratings upgraded shares of Fortive (NYSE:FTV) from a sell (d+) rating to a hold (c-) rating in a research report report published on Saturday morning,Weiss Ratings reports.

A number of other research analysts also recently issued reports on FTV. Zacks Research raised shares of Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Mizuho lowered their target price on shares of Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Truist Financial reiterated a “hold” rating and set a $55.00 price objective (down previously from $60.00) on shares of Fortive in a report on Thursday, July 31st. Cowen lowered Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, July 15th. Finally, Raymond James Financial reduced their target price on Fortive from $90.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 1st. Three investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.14.

Fortive Stock Down 0.0%

Shares of NYSE FTV opened at $49.46 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $16.73 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 3.14 and a beta of 1.15. Fortive has a 12-month low of $46.34 and a 12-month high of $83.32. The stock’s fifty day simple moving average is $48.67 and its two-hundred day simple moving average is $57.44.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The firm had revenue of $1.07 billion during the quarter. Fortive had a return on equity of 11.96% and a net margin of 13.62%. As a group, analysts expect that Fortive will post 4.05 EPS for the current fiscal year.

Fortive Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Fortive’s dividend payout ratio is presently 10.81%.

Institutional Trading of Fortive

Several large investors have recently added to or reduced their stakes in FTV. True Wealth Design LLC grew its stake in Fortive by 815.4% during the 2nd quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after purchasing an additional 424 shares during the last quarter. Accent Capital Management LLC purchased a new stake in Fortive in the first quarter valued at $26,000. Quent Capital LLC purchased a new stake in Fortive in the third quarter valued at $28,000. Exchange Traded Concepts LLC boosted its holdings in Fortive by 46.7% in the third quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after purchasing an additional 236 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after buying an additional 357 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

About Fortive

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.