Fortive Co. (NYSE:FTV) Receives Average Rating of “Hold” from Brokerages

Shares of Fortive Co. (NYSE:FTV) have earned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $85.69.

Several research analysts have commented on FTV shares. Royal Bank of Canada cut their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Citigroup dropped their target price on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Barclays increased their price target on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd.

Fortive Stock Performance

NYSE FTV opened at $72.30 on Wednesday. Fortive has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The stock has a market cap of $25.45 billion, a PE ratio of 28.58, a PEG ratio of 2.17 and a beta of 1.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. The firm’s fifty day moving average price is $75.04 and its two-hundred day moving average price is $78.21.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. On average, equities analysts expect that Fortive will post 3.8 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, May 31st. Fortive’s dividend payout ratio is presently 12.65%.

Hedge Funds Weigh In On Fortive

A number of hedge funds have recently bought and sold shares of FTV. Massmutual Trust Co. FSB ADV raised its stake in shares of Fortive by 3.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 32,822 shares of the technology company’s stock worth $2,432,000 after buying an additional 1,189 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Fortive by 44.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,020 shares of the technology company’s stock worth $76,000 after acquiring an additional 315 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in shares of Fortive by 34.6% during the second quarter. Transcend Capital Advisors LLC now owns 3,698 shares of the technology company’s stock valued at $274,000 after buying an additional 951 shares during the last quarter. NBW Capital LLC lifted its stake in shares of Fortive by 1.6% during the 1st quarter. NBW Capital LLC now owns 40,037 shares of the technology company’s stock worth $3,444,000 after acquiring an additional 612 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Fortive by 20.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,105 shares of the technology company’s stock worth $95,000 after purchasing an additional 185 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.