Fortive’s (FTV) “Neutral” Rating Reaffirmed at Credit Suisse Group

Fortive (NYSE:FTV)‘s stock had its “neutral” rating reiterated by investment analysts at Credit Suisse Group in a note issued to investors on Thursday, January 3rd, The Fly reports. They presently have a $78.00 price target on the technology company’s stock, down from their prior price target of $86.00. Credit Suisse Group’s target price suggests a potential upside of 12.21% from the company’s previous close.

Several other research firms have also recently issued reports on FTV. Gordon Haskett assumed coverage on Fortive in a report on Friday, October 12th. They issued a “buy” rating on the stock. Morgan Stanley set a $90.00 price target on Fortive and gave the company an “equal weight” rating in a report on Tuesday, October 2nd. TheStreet cut Fortive from a “b-” rating to a “c” rating in a report on Wednesday, December 19th. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Monday, October 1st. Finally, SunTrust Banks lowered their price target on shares of Fortive from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, October 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $85.82.

NYSE:FTV opened at $69.51 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.98 and a quick ratio of 0.79. Fortive has a one year low of $62.89 and a one year high of $88.34. The stock has a market capitalization of $23.12 billion, a P/E ratio of 24.05, a PEG ratio of 1.57 and a beta of 1.07.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, October 25th. The technology company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Fortive had a return on equity of 24.91% and a net margin of 15.72%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. On average, analysts predict that Fortive will post 3 EPS for the current year.

In other news, insider James A. Lico sold 123,298 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $75.41, for a total value of $9,297,902.18. Following the sale, the insider now directly owns 357,460 shares of the company’s stock, valued at approximately $26,956,058.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William W. Pringle sold 476 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $73.18, for a total transaction of $34,833.68. Following the completion of the sale, the insider now directly owns 28,639 shares in the company, valued at $2,095,802.02. The disclosure for this sale can be found here. Insiders sold 142,382 shares of company stock worth $10,729,598 over the last 90 days. 12.20% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. IFM Investors Pty Ltd grew its holdings in shares of Fortive by 14.0% in the third quarter. IFM Investors Pty Ltd now owns 16,187 shares of the technology company’s stock worth $1,363,000 after purchasing an additional 1,987 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Fortive by 2.9% during the 2nd quarter. Bank of America Corp DE now owns 2,913,140 shares of the technology company’s stock valued at $224,633,000 after buying an additional 83,258 shares in the last quarter. Marshall & Sullivan Inc. WA boosted its holdings in shares of Fortive by 9.7% during the 3rd quarter. Marshall & Sullivan Inc. WA now owns 21,636 shares of the technology company’s stock valued at $1,822,000 after buying an additional 1,922 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its holdings in shares of Fortive by 0.9% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 468,514 shares of the technology company’s stock valued at $39,448,000 after buying an additional 4,118 shares in the last quarter. Finally, Alambic Investment Management L.P. bought a new stake in shares of Fortive during the 3rd quarter valued at $337,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

About Fortive

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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