Fortive (NYSE:FTV) Now Covered by Analysts at Evercore

Key Points

• Evercore initiated coverage of Fortive with an “in-line” rating and a $60 price target, implying 8.7% upside from the stock’s prior close.
• Analyst sentiment remains cautious: Fortive has a consensus “Hold” rating and an average price target of $62.82, based on two Buy, nine Hold, and two Sell ratings.
• Fortive’s latest quarterly results exceeded expectations, with adjusted EPS of $0.74 versus the $0.71 consensus and revenue of $1.10 billion versus $1.07 billion expected.

Analysts at Evercore initiated coverage on shares of Fortive (NYSE:FTV - Get Free Report) in a research report issued to clients and investors on Monday, Briefing.com reports. The brokerage set an "in-line" rating and a $60.00 price target on the technology company's stock. Evercore's price target suggests a potential upside of 8.70% from the company's previous close.

A number of other analysts also recently weighed in on FTV. Truist Financial reissued a "hold" rating and set a $68.00 target price (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Morgan Stanley boosted their target price on Fortive from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 3rd. Weiss Ratings lowered Fortive from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 27th. Finally, Argus reiterated a "buy" rating and issued a $68.00 target price on shares of Fortive in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $62.82.

Fortive Stock Performance

NYSE:FTV traded down $0.89 during mid-day trading on Monday, hitting $55.20. 461,633 shares of the stock were exchanged, compared to its average volume of 3,162,921. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 2.32 and a beta of 1.05. Fortive has a fifty-two week low of $47.71 and a fifty-two week high of $64.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24. The firm's 50-day simple moving average is $58.82 and its 200 day simple moving average is $59.19.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the firm posted $0.90 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. As a group, equities analysts anticipate that Fortive will post 3.02 EPS for the current fiscal year.

Insider Activity

In other news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction on Monday, August 10th. The stock was sold at an average price of $61.59, for a total transaction of $533,492.58. Following the sale, the senior vice president directly owned 79,118 shares in the company, valued at $4,872,877.62. The trade was a 9.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. increased its position in Fortive by 13.8% in the second quarter. QRG Capital Management Inc. now owns 17,973 shares of the technology company's stock worth $1,098,000 after buying an additional 2,175 shares during the last quarter. Security National Bank of Sioux City Iowa IA raised its stake in Fortive by 28.0% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 13,954 shares of the technology company's stock valued at $852,000 after acquiring an additional 3,052 shares during the period. Anchor Investment Management LLC boosted its position in Fortive by 156.5% during the second quarter. Anchor Investment Management LLC now owns 690 shares of the technology company's stock worth $42,000 after purchasing an additional 421 shares during the period. Core Capital Management & Research inc. bought a new stake in shares of Fortive in the second quarter valued at approximately $296,000. Finally, Sequoia Financial Advisors LLC grew its position in shares of Fortive by 2.5% in the second quarter. Sequoia Financial Advisors LLC now owns 25,163 shares of the technology company's stock valued at $1,537,000 after purchasing an additional 621 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Company Profile

Fortive Corporation NYSE: FTV is a diversified industrial technology company that develops and provides essential products, software and services for customers in healthcare, manufacturing, utilities, commercial facilities and other professional markets. Its businesses focus on improving workplace productivity, safety, compliance, asset performance and operational efficiency.

Fortive's portfolio has included brands such as Fluke, Tektronix, Industrial Scientific, Accruent, Gordian, Provation and ASP.

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