JPMorgan Chase & Co. Reaffirms Neutral Rating for Fortive (NYSE:FTV)

Key Points

• JPMorgan Chase & Co. has downgraded Fortive from an "overweight" rating to a "neutral" rating with a price target decrease from $58.00 to $53.00.
• Fortive currently has a consensus rating of "Hold" among analysts, with three ratings as Buy, fifteen as Hold, and one as Sell, and an average price target of $61.93.
• Fortive's stock has seen a 0.8% increase, opening at $48.99, with a market capitalization of $16.57 billion.

Fortive (NYSE:FTV - Get Free Report)'s stock had its "neutral" rating reissued by equities researchers at JPMorgan Chase & Co. in a research report issued on Wednesday, Marketbeat Ratings reports. They currently have a $53.00 price target on the technology company's stock, down from their previous price target of $58.00. JPMorgan Chase & Co.'s price objective points to a potential upside of 8.20% from the stock's current price.

Several other brokerages also recently commented on FTV. Weiss Ratings downgraded Fortive from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, October 8th. Cowen downgraded Fortive from a "buy" rating to a "hold" rating in a report on Tuesday, July 15th. Wells Fargo & Company reduced their target price on Fortive from $72.00 to $55.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 1st. Raymond James Financial reduced their target price on Fortive from $90.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, July 1st. Finally, Mizuho reduced their target price on Fortive from $85.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Fortive has an average rating of "Hold" and an average price target of $61.93.

Fortive Stock Up 0.8%

NYSE FTV opened at $48.99 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The stock's 50 day moving average is $48.39 and its two-hundred day moving average is $58.67. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 3.08 and a beta of 1.15. Fortive has a 1-year low of $46.34 and a 1-year high of $83.32.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The company had revenue of $1.07 billion for the quarter. Fortive had a return on equity of 11.96% and a net margin of 13.62%. Equities analysts forecast that Fortive will post 4.05 earnings per share for the current fiscal year.

Institutional Trading of Fortive

A number of large investors have recently made changes to their positions in the company. Redmond Asset Management LLC increased its position in shares of Fortive by 1.0% in the 1st quarter. Redmond Asset Management LLC now owns 14,515 shares of the technology company's stock valued at $1,062,000 after buying an additional 142 shares in the last quarter. Capital Analysts LLC increased its position in shares of Fortive by 41.0% in the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company's stock valued at $38,000 after buying an additional 152 shares in the last quarter. Tandem Capital Management Corp ADV increased its position in shares of Fortive by 0.6% in the 1st quarter. Tandem Capital Management Corp ADV now owns 27,557 shares of the technology company's stock valued at $2,017,000 after buying an additional 160 shares in the last quarter. Forum Financial Management LP increased its position in shares of Fortive by 2.3% in the 1st quarter. Forum Financial Management LP now owns 7,119 shares of the technology company's stock valued at $521,000 after buying an additional 161 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Fortive by 19.1% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,092 shares of the technology company's stock valued at $80,000 after buying an additional 175 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

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.