Fortive Corporation (NYSE:FTV) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Fortive Corporation (NYSE:FTV - Get Free Report) has received an average recommendation of "Moderate Buy" from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $82.62.

Several equities analysts recently issued reports on the company. BNP Paribas reaffirmed a "neutral" rating on shares of Fortive in a report on Thursday, June 12th. Citigroup cut their price target on Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Royal Bank Of Canada increased their price objective on shares of Fortive from $78.00 to $79.00 and gave the stock a "sector perform" rating in a report on Monday, June 9th. Truist Financial lowered their price target on Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Barclays reissued an "overweight" rating and issued a $86.00 price objective (up previously from $84.00) on shares of Fortive in a research report on Tuesday, June 3rd.

Insiders Place Their Bets

In other Fortive news, CEO James A. Lico sold 175,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $72.40, for a total transaction of $12,670,000.00. Following the transaction, the chief executive officer now owns 428,585 shares of the company's stock, valued at $31,029,554. The trade was a 28.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Peter C. Underwood sold 14,327 shares of the company'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 completion of the transaction, the senior vice president now owns 51,750 shares in the company, 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. Company insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Parvin Asset Management LLC acquired a new stake in Fortive during the 4th quarter valued at approximately $26,000. American National Bank & Trust bought a new stake in Fortive during the 1st quarter worth approximately $26,000. Accent Capital Management LLC purchased a new stake in Fortive in the 1st quarter valued at $26,000. Global X Japan Co. Ltd. raised its holdings in shares of Fortive by 114.2% in the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock valued at $28,000 after purchasing an additional 201 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Fortive during the 4th quarter worth approximately $30,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Price Performance

Shares of Fortive stock opened at $69.57 on Wednesday. Fortive has a 12 month low of $60.39 and a 12 month high of $83.32. 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 business has a 50 day simple moving average of $69.49 and a two-hundred day simple moving average of $74.18. The stock has a market capitalization of $23.65 billion, a P/E ratio of 30.51, a PEG ratio of 2.93 and a beta of 1.11.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, meeting analysts' consensus estimates of $0.85. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Fortive had a return on equity of 13.19% and a net margin of 12.90%. 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 posted $0.83 earnings per share. As a group, analysts predict that Fortive will post 4.05 EPS for the current fiscal year.

Fortive declared that its board has authorized a stock repurchase plan on Tuesday, May 27th that authorizes the company to repurchase 15,630,000 outstanding shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be given a $0.08 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.46%. Fortive's dividend payout ratio is currently 14.04%.

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.

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