Fortive (NYSE:FTV) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Fortive (NYSE:FTV) from a buy rating to a hold rating in a research note published on Monday.

A number of other brokerages have also weighed in on FTV. Barclays decreased their price objective on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company boosted their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday. Truist Financial boosted their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group started coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective for the company. Finally, Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

Fortive Stock Performance

Shares of FTV opened at $80.54 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive has a one year low of $66.15 and a one year high of $87.10. The company has a 50-day simple moving average of $77.65 and a two-hundred day simple moving average of $75.40. The firm has a market capitalization of $27.94 billion, a PE ratio of 32.09, 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 EPS 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 last year, the firm earned $0.98 earnings per share. On average, analysts anticipate that Fortive will post 3.84 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is 13.56%.

Institutional Investors Weigh In On Fortive

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in Fortive in the 3rd quarter worth $25,000. Whipplewood Advisors LLC bought a new position in Fortive in the 4th quarter worth $31,000. Versant Capital Management Inc boosted its holdings in Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after buying an additional 297 shares during the period. Crews Bank & Trust bought a new position in Fortive in the 4th quarter worth $37,000. Finally, Albion Financial Group UT bought a new position in Fortive in the 4th quarter worth $38,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.