Fortive (NYSE:FTV) Stock Gets Price Target Reduction from Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Fortive’s price target from $63 to $59 while maintaining a “sector perform” rating, implying roughly 2.18% upside from the prior close.
• Analyst sentiment remains cautious: Fortive has a consensus “Hold” rating and an average price target of $61.27, based on two Buy, nine Hold, and two Sell ratings.
• Fortive’s latest quarterly results exceeded expectations, with earnings of $0.74 per share versus $0.71 expected and revenue of $1.10 billion versus $1.07 billion estimated; revenue rose 8% year over year.

Fortive (NYSE:FTV - Get Free Report) had its price objective lowered by stock analysts at Royal Bank Of Canada from $63.00 to $59.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a "sector perform" rating on the technology company's stock. Royal Bank Of Canada's price objective suggests a potential upside of 2.18% from the company's previous close.

Several other equities research analysts have also commented on the stock. Argus reiterated a "buy" rating and issued a $68.00 price objective on shares of Fortive in a research report on Wednesday, August 19th. Evercore assumed coverage on Fortive in a research report on Monday, September 28th. They issued a "hold" rating and a $60.00 price objective on the stock. Weiss Ratings downgraded shares of Fortive from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 27th. JPMorgan Chase & Co. reduced their target price on Fortive from $64.00 to $56.00 and set an "underweight" rating on the stock in a research report on Friday, October 9th. Finally, Truist Financial dropped their price target on shares of Fortive from $68.00 to $63.00 and set a "hold" rating for the company in a research report on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $61.27.

Fortive Stock Performance

Shares of FTV opened at $57.74 on Wednesday. Fortive has a 1 year low of $48.10 and a 1 year 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 company's fifty day moving average is $57.83 and its two-hundred day moving average is $59.32. The stock has a market capitalization of $17.44 billion, a P/E ratio of 34.17, a P/E/G ratio of 2.38 and a beta of 1.07.

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 for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortive had a return on equity of 15.33% and a net margin of 12.38%. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, sell-side analysts predict that Fortive will post 3.02 earnings per share for the current year.

Insider Transactions at Fortive

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 79,118 shares of the company's stock, valued at $4,872,877.62. This trade represents a 9.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.65% of the stock is owned by insiders.

Institutional Trading of Fortive

Several institutional investors have recently added to or reduced their stakes in the business. Copeland Capital Management LLC acquired a new stake in shares of Fortive during the 3rd quarter worth approximately $186,000. Dakota Community Bank & Trust NA lifted its holdings in Fortive by 42.9% in the third quarter. Dakota Community Bank & Trust NA now owns 1,002 shares of the technology company's stock worth $55,000 after purchasing an additional 301 shares during the period. GAMMA Investing LLC increased its stake in Fortive by 20.2% during the 3rd quarter. GAMMA Investing LLC now owns 4,728 shares of the technology company's stock valued at $259,000 after buying an additional 793 shares during the period. North Point Portfolio Managers Corp OH acquired a new stake in shares of Fortive in the 3rd quarter worth approximately $44,000. Finally, QRG Capital Management Inc. lifted its stake in shares of Fortive by 13.8% in the 2nd quarter. QRG Capital Management Inc. now owns 17,973 shares of the technology company's stock worth $1,098,000 after acquiring an additional 2,175 shares during the period. Institutional investors own 94.94% of the company's stock.

About Fortive

Fortive Corporation NYSE: FTV is a diversified industrial technology company that develops and provides connected products, software, and services for customers in healthcare, manufacturing, infrastructure, and other regulated or asset-intensive industries. Its offerings are designed to improve productivity, operating efficiency, safety, compliance, and the reliability of critical equipment and processes.

The company's businesses have included electronic test and measurement instruments, calibration and asset-management solutions, workplace and public-safety products, industrial software, and healthcare technologies.

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