Fortive (NYSE:FTV) Price Target Raised to $65.00

Fortive (NYSE:FTV) had its price objective raised by Wells Fargo & Company from $59.00 to $65.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

Several other research firms have also issued reports on FTV. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a research report on Monday, December 29th. Citigroup lifted their target price on shares of Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley upped their target price on shares of Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $57.00 price target (up previously from $55.00) on shares of Fortive in a research report on Friday, January 16th. Finally, Robert W. Baird set a $65.00 price objective on shares of Fortive in a report on Thursday. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.85.

Fortive Stock Performance

Shares of FTV opened at $60.15 on Thursday. 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 price is $54.91 and its 200-day moving average price is $51.31. Fortive has a 52 week low of $46.34 and a 52 week high of $83.32. The stock has a market cap of $19.10 billion, a P/E ratio of 34.77, a P/E/G ratio of 3.25 and a beta of 1.12.

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

Institutional Investors Weigh In On Fortive

A number of hedge funds have recently added to or reduced their stakes in FTV. Brighton Jones LLC increased its holdings in Fortive by 97.1% during the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after buying an additional 2,811 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Fortive by 6.9% during the 1st quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after acquiring an additional 430 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Fortive by 114.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 26,506 shares of the technology company’s stock worth $1,382,000 after purchasing an additional 14,120 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Fortive by 2.1% in the 2nd quarter. QRG Capital Management Inc. now owns 21,075 shares of the technology company’s stock worth $1,100,000 after purchasing an additional 439 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.