Wells Fargo & Company Increases Fortive (NYSE:FTV) Price Target to $82.00

Fortive (NYSE:FTV) had its target price boosted by stock analysts at Wells Fargo & Company from $75.00 to $82.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 7.64% from the company’s current price.

FTV has been the subject of a number of other reports. Barclays lifted their price target on shares of Fortive from $96.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Thursday, September 5th. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $77.00 price objective on shares of Fortive in a research note on Friday, September 6th. Finally, Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Fortive has an average rating of “Moderate Buy” and a consensus target price of $86.75.

Fortive Stock Performance

Shares of FTV traded down $0.73 during mid-day trading on Monday, hitting $76.18. 789,044 shares of the company’s stock were exchanged, compared to its average volume of 1,854,109. Fortive has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The firm has a market capitalization of $26.82 billion, a P/E ratio of 30.11, a P/E/G ratio of 2.22 and a beta of 1.12. The business’s 50 day moving average is $72.92 and its two-hundred day moving average is $75.56. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts expect that Fortive will post 3.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

Institutional Trading of Fortive

Institutional investors have recently made changes to their positions in the stock. Indiana Trust & Investment Management CO acquired a new stake in shares of Fortive in the 1st quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in Fortive during the second quarter valued at approximately $30,000. International Assets Investment Management LLC acquired a new stake in Fortive during the second quarter valued at approximately $30,000. Goodman Advisory Group LLC acquired a new stake in Fortive during the second quarter valued at approximately $31,000. Finally, Advisors Asset Management Inc. acquired a new stake in Fortive during the first quarter valued at approximately $32,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Company Profile

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.