Argus Reiterates Hold Rating for Fortive (NYSE:FTV)

Fortive (NYSE:FTV)‘s stock had its “hold” rating reiterated by equities research analysts at Argus in a report issued on Monday, MarketBeat Ratings reports.

A number of other research firms have also commented on FTV. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Morgan Stanley started coverage on shares of Fortive in a research note on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective on the stock. Truist Financial reduced their price target on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Six 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.82.

Fortive Trading Down 0.1 %

Shares of NYSE:FTV opened at $74.50 on Monday. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10. The firm has a fifty day moving average price of $75.62 and a 200 day moving average price of $74.14. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $25.85 billion, a PE ratio of 29.68, a P/E/G ratio of 2.05 and a beta of 1.13.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. Analysts expect that Fortive will post 3.85 EPS for the current fiscal year.

Insider Activity at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,895 shares of company stock valued at $14,261,051 in the last 90 days. 1.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Fortive in the third quarter valued at about $25,000. Ridgewood Investments LLC bought a new position in shares of Fortive in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC acquired a new stake in shares of Fortive during the 2nd quarter worth approximately $30,000. Goodman Advisory Group LLC bought a new stake in shares of Fortive during the second quarter worth approximately $31,000. Finally, Advisors Asset Management Inc. acquired a new position in Fortive in the first quarter valued at approximately $32,000. 94.94% of the stock is currently owned by institutional investors.

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.