Barclays Has Lowered Expectations for Fortive (NYSE:FTV) Stock Price

Fortive (NYSE:FTV - Free Report) had its price target cut by Barclays from $86.00 to $58.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company's stock.

A number of other research analysts also recently commented on the stock. Wall Street Zen raised shares of Fortive to a "hold" rating in a research note on Saturday, July 5th. Royal Bank Of Canada upped their price objective on shares of Fortive from $78.00 to $79.00 and gave the company a "sector perform" rating in a research note on Monday, June 9th. Truist Financial dropped their price objective on shares of Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird lowered their price objective on shares of Fortive from $88.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company lowered their price objective on shares of Fortive from $72.00 to $55.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 1st. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Fortive presently has a consensus rating of "Hold" and an average target price of $73.67.

Fortive Trading Up 0.0%

NYSE:FTV traded up $0.01 on Wednesday, reaching $53.00. The stock had a trading volume of 3,968,650 shares, compared to its average volume of 2,785,753. The company has a market cap of $18.01 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 2.62 and a beta of 1.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.78. The firm's fifty day moving average is $67.89 and its two-hundred day moving average is $72.49. Fortive has a 12-month low of $50.00 and a 12-month high of $83.32.

Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.85. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Fortive had a net margin of 12.90% and a return on equity of 13.19%. The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. Equities analysts expect that Fortive will post 4.05 EPS for the current fiscal year.

Fortive declared that its board has approved a share buyback plan on Tuesday, May 27th that authorizes the company to buyback 15,630,000 outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Fortive news, CEO James A. Lico sold 175,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $72.40, for a total transaction of $12,670,000.00. Following the transaction, the chief executive officer owned 428,585 shares of the company's stock, valued at approximately $31,029,554. This trade represents a 28.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Peter C. Underwood sold 14,327 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $73.88, for a total transaction of $1,058,478.76. Following the transaction, the senior vice president owned 51,750 shares of the company's stock, valued at approximately $3,823,290. This trade represents a 21.68% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FTV. Parvin Asset Management LLC purchased a new position in shares of Fortive in the fourth quarter worth approximately $26,000. American National Bank & Trust acquired a new stake in shares of Fortive during the first quarter worth approximately $26,000. Accent Capital Management LLC acquired a new stake in shares of Fortive during the first quarter worth approximately $26,000. Global X Japan Co. Ltd. boosted its holdings in shares of Fortive by 114.2% during the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock worth $28,000 after purchasing an additional 201 shares during the period. Finally, Park Square Financial Group LLC acquired a new stake in Fortive in the fourth quarter valued at approximately $30,000. 94.94% of the stock is owned by hedge funds and other 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.