Fortive (NYSE:FTV) Rating Lowered to Neutral at JPMorgan Chase & Co.

Fortive (NYSE:FTV - Get Free Report) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $90.00 price target on the technology company's stock, down from their previous price target of $95.00. JPMorgan Chase & Co.'s target price would suggest a potential upside of 12.22% from the stock's previous close.

Other equities analysts have also issued reports about the stock. Mizuho raised their price objective on shares of Fortive from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, February 1st. Royal Bank of Canada increased their price objective on Fortive from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 1st. Truist Financial began coverage on Fortive in a research note on Thursday, March 14th. They set a "buy" rating and a $99.00 price objective for the company. Vertical Research lowered Fortive from a "buy" rating to a "hold" rating in a research note on Tuesday, January 2nd. Finally, Wells Fargo & Company lifted their price target on Fortive from $79.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $86.54.

Fortive Stock Performance

Shares of FTV stock traded down $0.84 during trading hours on Wednesday, hitting $80.20. 1,865,183 shares of the company were exchanged, compared to its average volume of 1,609,264. Fortive has a 52-week low of $62.70 and a 52-week 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 firm has a fifty day simple moving average of $84.56 and a 200 day simple moving average of $75.92. The stock has a market capitalization of $28.18 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 2.57 and a beta of 1.13.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The business's revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. Research analysts predict that Fortive will post 3.78 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Tamara S. Newcombe sold 5,000 shares of Fortive stock in a transaction on Friday, February 16th. The shares were sold at an average price of $85.00, for a total value of $425,000.00. Following the transaction, the chief executive officer now owns 55,017 shares in the company, valued at approximately $4,676,445. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Tamara S. Newcombe sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the transaction, the chief executive officer now directly owns 55,017 shares in the company, valued at approximately $4,676,445. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction that occurred on 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 $3,162,267. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,937 shares of company stock valued at $5,475,122. Corporate insiders own 0.95% of the company's stock.

Institutional Investors Weigh In On Fortive

Several institutional investors have recently added to or reduced their stakes in FTV. OFI Invest Asset Management purchased a new stake in shares of Fortive during the third quarter worth about $25,000. Indiana Trust & Investment Management CO purchased a new stake in Fortive in the 1st quarter worth approximately $26,000. PCA Investment Advisory Services Inc. purchased a new stake in Fortive in the 2nd quarter worth approximately $26,000. Cornerstone Planning Group LLC bought a new stake in shares of Fortive in the 3rd quarter worth approximately $28,000. Finally, Cetera Trust Company N.A purchased a new position in shares of Fortive during the fourth quarter valued at approximately $28,000. Hedge funds and other 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.