Fortive Co. (NYSE:FTV) Receives Consensus Rating of "Hold" from Brokerages

Shares of Fortive Co. (NYSE:FTV - Get Free Report) have received a consensus rating of "Hold" from the thirteen brokerages that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $86.54.

Several equities analysts have recently weighed in on FTV shares. JPMorgan Chase & Co. cut Fortive from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $95.00 to $90.00 in a research report on Wednesday. Mizuho boosted their target price on Fortive from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, February 1st. Barclays boosted their target price on Fortive from $89.00 to $97.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. Vertical Research cut Fortive from a "buy" rating to a "hold" rating in a research report on Tuesday, January 2nd. Finally, Truist Financial started coverage on Fortive in a research report on Thursday, March 14th. They set a "buy" rating and a $99.00 target price for the company.

Fortive Stock Performance

Shares of NYSE FTV traded down $0.69 during mid-day trading on Friday, hitting $79.49. The company had a trading volume of 2,406,283 shares, compared to its average volume of 1,619,005. The company has a market capitalization of $27.93 billion, a price-to-earnings ratio of 32.58, a P/E/G ratio of 2.45 and a beta of 1.13. Fortive has a 1 year low of $62.70 and a 1 year high of $87.10. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35. The stock's 50-day moving average price is $84.41 and its 200-day moving average price is $76.02.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.56 billion. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. On average, sell-side analysts forecast that Fortive will post 3.78 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, May 31st. Fortive's payout ratio is currently 13.11%.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 9,106 shares of the company's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the completion of the transaction, the senior vice president now directly owns 36,558 shares in the company, valued at approximately $3,162,267. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Tamara S. Newcombe sold 5,000 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the sale, the chief executive officer now owns 55,017 shares of the company's stock, valued at approximately $4,676,445. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Stacey A. Walker sold 9,106 shares of the business's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total value of $787,669.00. Following the completion of the sale, the senior vice president now directly owns 36,558 shares of the company's stock, valued at approximately $3,162,267. The disclosure for this sale can be found here. In the last three months, insiders sold 63,937 shares of company stock worth $5,475,122. 0.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fortive

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Direct Indexing L.P. lifted its stake in shares of Fortive by 14.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 8,375 shares of the technology company's stock valued at $720,000 after acquiring an additional 1,035 shares during the last quarter. Arcus Capital Partners LLC bought a new stake in shares of Fortive in the 1st quarter valued at about $756,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Fortive by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 841,041 shares of the technology company's stock valued at $72,346,000 after acquiring an additional 4,669 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in Fortive during the 1st quarter valued at approximately $55,000. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in Fortive by 9.3% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 21,800 shares of the technology company's stock valued at $1,875,000 after purchasing an additional 1,863 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.