Fortive (NYSE:FTV) Given New $85.00 Price Target at Royal Bank of Canada

Fortive (NYSE:FTV) had its price objective boosted by Royal Bank of Canada from $77.00 to $85.00 in a report released on Monday,Benzinga reports. They currently have a sector perform rating on the technology company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and reduced their target price for the company from $92.00 to $86.00 in a research note on Monday, December 9th. Wells Fargo & Company raised their price objective on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday. Truist Financial boosted their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. Finally, Argus reissued a “hold” rating on shares of Fortive in a report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.64.

Fortive Stock Performance

Shares of NYSE FTV opened at $80.54 on Monday. Fortive has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a market cap of $27.94 billion, a P/E ratio of 32.09, a P/E/G ratio of 2.14 and a beta of 1.15. The business’s 50 day moving average is $77.65 and its two-hundred day moving average is $75.40. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned $0.98 EPS. On average, equities analysts expect that Fortive will post 3.84 EPS for the current year.

Fortive Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Fortive during the third quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new stake in Fortive during the 4th quarter worth $31,000. Versant Capital Management Inc raised its position 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 acquiring an additional 297 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of Fortive in the 4th quarter valued at $37,000. Finally, Albion Financial Group UT acquired a new position in shares of Fortive in the 4th quarter valued at $38,000. 94.94% of the stock is currently 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.