Fortive (NYSE:FTV) Price Target Lowered to $85.00 at Barclays

Fortive (NYSE:FTV) had its price target decreased by Barclays from $90.00 to $85.00 in a research report released on Wednesday, MarketBeat Ratings reports. Barclays currently has an overweight rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on FTV. Royal Bank of Canada increased their price objective on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. Truist Financial increased their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company boosted their price target on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Fortive currently has an average rating of “Moderate Buy” and an average target price of $87.18.

Fortive Trading Down 1.1 %

NYSE FTV opened at $75.17 on Wednesday. The firm’s fifty day moving average price is $78.56 and its 200 day moving average price is $76.95. Fortive has a 12 month low of $66.15 and a 12 month high of $86.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The company has a market capitalization of $25.58 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter last year, the business earned $0.98 EPS. On average, sell-side analysts expect that Fortive will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

Insider Buying and Selling at Fortive

In other news, SVP Stacey A. Walker sold 3,002 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the sale, the senior vice president now owns 42,373 shares in the company, valued at $3,349,585.65. This trade represents a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the sale, the chief financial officer now owns 76,126 shares of the company’s stock, valued at $6,003,296.36. This trade represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 243,385 shares of company stock valued at $19,508,529. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Fortive

Institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its holdings in Fortive by 9.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 42,947,135 shares of the technology company’s stock valued at $3,221,036,000 after purchasing an additional 3,810,997 shares in the last quarter. Flossbach Von Storch SE lifted its stake in Fortive by 1.2% during the fourth quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company’s stock worth $892,743,000 after purchasing an additional 137,479 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Fortive by 164.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,730,161 shares of the technology company’s stock valued at $654,763,000 after buying an additional 5,429,566 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Fortive by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 8,294,930 shares of the technology company’s stock valued at $620,480,000 after purchasing an additional 103,015 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after buying an additional 977,428 shares during the period. Institutional investors and hedge funds 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.