JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Fortive (NYSE:FTV) Stock

Fortive (NYSE:FTV) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $57.00 to $63.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 12.62% from the stock’s current price.

Several other analysts have also weighed in on FTV. Citigroup boosted their price objective on Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Robert W. Baird set a $65.00 price target on Fortive in a report on Thursday, February 5th. Mizuho reissued an “underperform” rating and set a $51.00 price target (down from $54.00) on shares of Fortive in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Finally, Truist Financial reissued a “hold” rating and set a $58.00 target price (up from $55.00) on shares of Fortive in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Fortive currently has a consensus rating of “Hold” and an average target price of $60.85.

Fortive Stock Performance

Shares of FTV opened at $55.94 on Wednesday. The firm has a market cap of $17.77 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 3.17 and a beta of 1.12. The company has a quick ratio of 0.58, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $55.40 and its two-hundred day moving average is $51.53. Fortive has a 52-week low of $46.34 and a 52-week high of $83.32.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.07. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Fortive had a net margin of 12.48% and a return on equity of 11.98%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Analysts forecast that Fortive will post 4.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Fortive

Several institutional investors have recently modified their holdings of FTV. Assenagon Asset Management S.A. boosted its position in shares of Fortive by 56.2% in the third quarter. Assenagon Asset Management S.A. now owns 77,550 shares of the technology company’s stock worth $3,799,000 after buying an additional 27,908 shares during the period. Voya Investment Management LLC lifted its stake in Fortive by 14.0% in the 3rd quarter. Voya Investment Management LLC now owns 507,055 shares of the technology company’s stock worth $24,841,000 after acquiring an additional 62,127 shares in the last quarter. Whittier Trust Co. boosted its position in Fortive by 6.8% during the 2nd quarter. Whittier Trust Co. now owns 354,784 shares of the technology company’s stock worth $18,494,000 after acquiring an additional 22,443 shares during the period. Brookstone Capital Management grew its stake in Fortive by 49.8% during the 3rd quarter. Brookstone Capital Management now owns 76,393 shares of the technology company’s stock valued at $3,742,000 after acquiring an additional 25,397 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of 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 purchasing an additional 92,222 shares during the period. Institutional investors own 94.94% of the company’s stock.

Fortive Company Profile

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.