Fortive (NYSE:FTV) Earns "Equal Weight" Rating from Morgan Stanley

Key Points

• Morgan Stanley has reiterated its "equal weight" rating for Fortive (NYSE:FTV) and set a new price target of $50.00, significantly down from the previous $90.00, indicating a potential upside of only 4.56% from the current stock price.
• Fortive's recent quarterly earnings report revealed an EPS of $0.58, missing estimates, and a year-over-year revenue decline of .4%.
• Institutional investors and hedge funds own approximately 94.94% of Fortive's stock, highlighting substantial institutional interest in the company.

Fortive (NYSE:FTV - Get Free Report)'s stock had its "equal weight" rating reiterated by investment analysts at Morgan Stanley in a research note issued on Tuesday,Benzinga reports. They presently have a $50.00 price target on the technology company's stock, down from their previous price target of $90.00. Morgan Stanley's price objective would suggest a potential upside of 4.56% from the company's current price.

Several other brokerages have also recently issued reports on FTV. Melius Research raised Fortive to a "hold" rating in a report on Tuesday, July 22nd. BNP Paribas reaffirmed a "neutral" rating on shares of Fortive in a report on Thursday, June 12th. Robert W. Baird decreased their price target on Fortive from $88.00 to $82.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company decreased their price target on Fortive from $72.00 to $55.00 and set an "equal weight" rating for the company in a report on Tuesday, July 1st. Finally, Truist Financial reiterated a "hold" rating and set a $55.00 target price (down previously from $60.00) on shares of Fortive in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $62.79.

Fortive Stock Down 0.4%

Shares of NYSE FTV opened at $47.82 on Tuesday. The stock has a market cap of $16.18 billion, a P/E ratio of 21.54, a PEG ratio of 3.03 and a beta of 1.10. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. Fortive has a 12-month low of $46.34 and a 12-month high of $83.32. The business's fifty day simple moving average is $51.52 and its 200-day simple moving average is $64.70.

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

Fortive declared that its Board of Directors has initiated a stock buyback 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. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Fortive

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTV. True Wealth Design LLC increased its position in Fortive by 815.4% during the 2nd quarter. True Wealth Design LLC now owns 476 shares of the technology company's stock worth $25,000 after purchasing an additional 424 shares during the period. American National Bank & Trust acquired a new position in Fortive during the 1st quarter worth approximately $26,000. Accent Capital Management LLC acquired a new position in Fortive during the 1st quarter worth approximately $26,000. Global X Japan Co. Ltd. increased its position in Fortive by 114.2% during the 1st 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 position in Fortive during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds 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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