Fortive (NYSE:FTV) Given New $56.00 Price Target at Truist Financial

Fortive (NYSE:FTV) had its price objective cut by Truist Financial from $57.00 to $56.00 in a report issued on Monday, MarketBeat reports. They currently have a hold rating on the technology company’s stock.

FTV has been the subject of several other research reports. JPMorgan Chase & Co. lifted their price objective on shares of Fortive from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada lifted their price objective on shares of Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Mizuho reaffirmed an “underperform” rating and issued a $51.00 price objective (down from $54.00) on shares of Fortive in a research note on Monday, January 5th. Barclays lifted their price objective on shares of Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a research note on Monday, February 9th. Finally, Zacks Research raised shares of Fortive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Fortive presently has a consensus rating of “Hold” and an average target price of $60.00.

Fortive Trading Up 0.7%

Fortive stock opened at $60.97 on Monday. The company’s fifty day simple moving average is $57.17 and its 200-day simple moving average is $54.48. The company has a quick ratio of 0.58, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. Fortive has a 12 month low of $46.34 and a 12 month high of $74.67. The stock has a market cap of $18.77 billion, a P/E ratio of 35.24, a P/E/G ratio of 3.27 and a beta of 1.09.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. Fortive had a net margin of 12.48% and a return on equity of 11.98%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company posted $1.17 EPS. Fortive’s revenue was up 4.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, sell-side analysts forecast that Fortive will post 2.95 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Fortive’s payout ratio is currently 13.87%.

Insiders Place Their Bets

In other Fortive news, Director Kate Mitchell sold 7,131 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total transaction of $416,022.54. Following the completion of the transaction, the director owned 31,775 shares of the company’s stock, valued at $1,853,753.50. The trade was a 18.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Dodge & Cox lifted its position in Fortive by 3.7% during the 4th quarter. Dodge & Cox now owns 44,157,822 shares of the technology company’s stock worth $2,437,953,000 after acquiring an additional 1,562,028 shares during the last quarter. Viking Global Investors LP lifted its position in Fortive by 28.7% during the 3rd quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock worth $1,003,495,000 after acquiring an additional 4,571,056 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Fortive by 29.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock worth $1,106,760,000 after acquiring an additional 4,532,031 shares during the last quarter. Norges Bank acquired a new position in Fortive during the 4th quarter worth $491,928,000. Finally, Geode Capital Management LLC lifted its position in Fortive by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 8,787,747 shares of the technology company’s stock worth $483,327,000 after acquiring an additional 116,939 shares during the last quarter. Institutional investors and hedge funds 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.