Fortive Corporation (NYSE:FTV) Receives Average Rating of “Hold” from Analysts

Shares of Fortive Corporation (NYSE:FTV) have been given an average rating of “Hold” by the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $57.7692.

Several brokerages have issued reports on FTV. Mizuho reaffirmed an “underperform” rating and set a $51.00 price objective (down previously from $54.00) on shares of Fortive in a report on Monday, January 5th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $57.00 target price (up from $55.00) on shares of Fortive in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Fortive in a research note on Monday, December 29th. Robert W. Baird lifted their price target on Fortive from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company increased their price objective on Fortive from $55.00 to $59.00 and gave the company an “equal weight” rating in a report on Monday, December 22nd.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction on Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the transaction, the senior vice president directly owned 59,488 shares in the company, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Fortive

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dodge & Cox raised its stake in Fortive by 28.4% during the 3rd quarter. Dodge & Cox now owns 42,595,794 shares of the technology company’s stock valued at $2,086,768,000 after acquiring an additional 9,422,189 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Fortive by 2.2% during the second quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock worth $2,054,644,000 after purchasing an additional 839,321 shares during the last quarter. Viking Global Investors LP lifted its holdings in shares of Fortive by 28.7% during the third quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock worth $1,003,495,000 after purchasing an additional 4,571,056 shares during the period. State Street Corp grew its position in Fortive by 0.7% in the 2nd quarter. State Street Corp now owns 14,157,168 shares of the technology company’s stock valued at $738,013,000 after buying an additional 92,222 shares during the last quarter. Finally, Flossbach Von Storch SE increased its stake in Fortive by 1.6% in the 2nd quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock valued at $627,825,000 after buying an additional 189,027 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Down 0.6%

FTV stock opened at $52.82 on Thursday. The company’s 50 day moving average is $54.42 and its two-hundred day moving average is $51.05. Fortive has a twelve month low of $46.34 and a twelve month high of $83.32. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The stock has a market cap of $16.78 billion, a P/E ratio of 30.18, a PEG ratio of 2.98 and a beta of 1.13.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, October 29th. The technology company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted $0.97 EPS. The company’s revenue was up 2.3% on a year-over-year basis. Research analysts expect that Fortive will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Fortive’s dividend payout ratio is currently 13.71%.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.