A number of other research analysts have also issued reports on the company. Morgan Stanley upgraded Fortive from an equal weight rating to an overweight rating and reduced their price objective for the company from $84.00 to $82.00 in a research report on Tuesday, December 18th. TheStreet lowered Fortive from a b- rating to a c rating in a research report on Wednesday, December 19th. Zacks Investment Research lowered Fortive from a hold rating to a sell rating in a research report on Monday, December 31st. Credit Suisse Group restated a neutral rating and set a $78.00 price objective (down previously from $86.00) on shares of Fortive in a research report on Thursday, January 3rd. Finally, William Blair restated a market perform rating on shares of Fortive in a research report on Tuesday, February 12th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $85.90.
Shares of NYSE FTV opened at $87.64 on Friday. Fortive has a twelve month low of $62.89 and a twelve month high of $88.36. The company has a quick ratio of 1.18, a current ratio of 1.45 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $29.33 billion, a PE ratio of 28.64, a PEG ratio of 2.07 and a beta of 1.14.
Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, February 7th. The technology company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Fortive had a return on equity of 22.42% and a net margin of 40.50%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $0.82 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts forecast that Fortive will post 3.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.32%. Fortive’s dividend payout ratio (DPR) is presently 9.15%.
In other Fortive news, insider William W. Pringle sold 435 shares of the business’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $80.66, for a total transaction of $35,087.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jonathan L. Schwarz sold 3,746 shares of the business’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $81.63, for a total value of $305,785.98. Following the transaction, the vice president now owns 17,740 shares of the company’s stock, valued at approximately $1,448,116.20. The disclosure for this sale can be found here. Insiders have sold a total of 5,964 shares of company stock valued at $486,847 in the last quarter. 12.20% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Kentucky Retirement Systems bought a new stake in shares of Fortive in the 4th quarter worth $865,000. Great Lakes Advisors LLC raised its position in shares of Fortive by 20.0% during the third quarter. Great Lakes Advisors LLC now owns 4,516 shares of the technology company’s stock worth $380,000 after purchasing an additional 754 shares during the period. Deutsche Bank AG raised its position in shares of Fortive by 79.0% during the fourth quarter. Deutsche Bank AG now owns 827,194 shares of the technology company’s stock worth $55,963,000 after purchasing an additional 365,059 shares during the period. Vanguard Group Inc raised its position in shares of Fortive by 0.9% during the third quarter. Vanguard Group Inc now owns 22,405,241 shares of the technology company’s stock worth $1,890,330,000 after purchasing an additional 203,786 shares during the period. Finally, Brown Advisory Inc. raised its position in shares of Fortive by 2.4% during the fourth quarter. Brown Advisory Inc. now owns 6,321,632 shares of the technology company’s stock worth $427,722,000 after purchasing an additional 146,763 shares during the period. Institutional investors own 85.06% of the company’s stock.
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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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