Fortive (NYSE:FTV) Downgraded by Weiss Ratings to Sell (D+)

Key Points

• Fortive has been downgraded from a "hold (c-)" rating to a "sell (d+)" rating by Weiss Ratings, indicating a negative outlook for the company.
• The company's stock price target estimates have been significantly lowered by multiple analysts, with Mizuho reducing it from $85.00 to $65.00.
• Fortive's recent quarterly earnings missed consensus expectations, reporting $0.58 per share against an anticipated $0.60, and its revenue decreased by 0.4% year-over-year.

Fortive (NYSE:FTV - Get Free Report) was downgraded by equities researchers at Weiss Ratings from a "hold (c-)" rating to a "sell (d+)" rating in a report issued on Wednesday,Weiss Ratings reports.

Other analysts also recently issued research reports about the stock. Melius Research raised shares of Fortive to a "hold" rating in a report on Tuesday, July 22nd. Mizuho dropped their price target on shares of Fortive from $85.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. TD Cowen downgraded shares of Fortive from a "buy" rating to a "hold" rating and dropped their price target for the company from $85.00 to $50.00 in a report on Tuesday, July 15th. Morgan Stanley reaffirmed an "equal weight" rating and set a $50.00 price target (down previously from $90.00) on shares of Fortive in a report on Tuesday, September 2nd. Finally, Cowen downgraded shares of Fortive from a "buy" rating to a "hold" rating in a report on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $62.79.

Fortive Stock Up 0.5%

NYSE:FTV opened at $49.88 on Wednesday. The firm has a market cap of $16.88 billion, a P/E ratio of 22.47, a P/E/G ratio of 3.15 and a beta of 1.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. Fortive has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The firm has a 50-day simple moving average of $48.30 and a two-hundred day simple moving average of $59.51.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.02). The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. Fortive had a net margin of 13.62% and a return on equity of 11.96%. The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Analysts predict that Fortive will post 4.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fortive

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its stake in Fortive by 11.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company's stock worth $790,000 after acquiring an additional 1,076 shares during the period. Drake & Associates LLC raised its position in shares of Fortive by 28.7% during the first quarter. Drake & Associates LLC now owns 22,298 shares of the technology company's stock valued at $1,632,000 after buying an additional 4,978 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Fortive by 13.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,343 shares of the technology company's stock valued at $3,757,000 after buying an additional 5,963 shares during the last quarter. Brookstone Capital Management bought a new stake in shares of Fortive during the first quarter valued at approximately $3,542,000. Finally, Perpetual Ltd raised its position in shares of Fortive by 60.0% during the first quarter. Perpetual Ltd now owns 239,735 shares of the technology company's stock valued at $17,544,000 after buying an additional 89,891 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

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.

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