Fortive Co. (NYSE:FTV) Receives $87.64 Average PT from Analysts

Shares of Fortive Co. (NYSE:FTV) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $87.64.

Several research firms recently issued reports on FTV. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. cut their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Argus reissued a “hold” rating on shares of Fortive in a report on Monday, November 18th. UBS Group initiated coverage on Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target for the company. Finally, Wells Fargo & Company raised their price target on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th.

Fortive Price Performance

Shares of NYSE:FTV opened at $80.59 on Thursday. The firm’s 50 day moving average price is $77.83 and its 200-day moving average price is $75.67. Fortive has a twelve month low of $66.15 and a twelve month high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $27.96 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same period in the previous year, the firm posted $0.98 EPS. Equities research analysts expect that Fortive will post 3.84 EPS for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is 12.75%.

Institutional Trading of Fortive

Several hedge funds and other institutional investors have recently bought and sold shares of FTV. Capital Performance Advisors LLP acquired a new stake in shares of Fortive in the 3rd quarter worth $25,000. Parvin Asset Management LLC acquired a new stake in Fortive during the 4th quarter worth about $26,000. Whipplewood Advisors LLC acquired a new stake in Fortive during the 4th quarter worth about $31,000. Versant Capital Management Inc raised its stake in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after buying an additional 297 shares during the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of Fortive during the 4th quarter valued at about $37,000. 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.