Fortive (NYSE:FTV) Stock Price Up 8.8% After Better-Than-Expected Earnings

Fortive Corporation (NYSE:FTVGet Free Report)’s share price shot up 8.8% on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $59.24 and last traded at $59.1470. 943,126 shares were traded during trading, a decline of 72% from the average session volume of 3,383,001 shares. The stock had previously closed at $54.35.

The technology company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.07. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company posted $1.17 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS.

Key Headlines Impacting Fortive

Here are the key news stories impacting Fortive this week:

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Mizuho reaffirmed an “underperform” rating and set a $51.00 price target (down previously from $54.00) on shares of Fortive in a research report on Monday, January 5th. Citigroup lifted their target price on Fortive from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, December 8th. Morgan Stanley increased their price target on Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $57.00 price objective (up from $55.00) on shares of Fortive in a research report on Friday, January 16th. Finally, Barclays upped their target price on shares of Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $57.77.

View Our Latest Report on FTV

Hedge Funds Weigh In On Fortive

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC raised its stake in shares of Fortive by 5.1% in the second quarter. Valeo Financial Advisors LLC now owns 4,078 shares of the technology company’s stock valued at $213,000 after purchasing an additional 199 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Fortive by 2.5% in the 4th quarter. Park Avenue Securities LLC now owns 8,401 shares of the technology company’s stock valued at $464,000 after buying an additional 208 shares during the period. Exchange Traded Concepts LLC increased its holdings in Fortive by 46.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after buying an additional 236 shares during the period. Transcend Capital Advisors LLC increased its stake in Fortive by 4.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 5,534 shares of the technology company’s stock valued at $306,000 after acquiring an additional 252 shares during the period. Finally, Blue Trust Inc. lifted its stake in Fortive by 20.4% during the third quarter. Blue Trust Inc. now owns 1,612 shares of the technology company’s stock worth $79,000 after purchasing an additional 273 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Up 10.6%

The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $54.64 and a two-hundred day simple moving average of $51.18. The company has a market capitalization of $19.09 billion, a price-to-earnings ratio of 34.34, a P/E/G ratio of 3.05 and a beta of 1.12.

About Fortive

(Get Free Report)

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.

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