Barclays Lowers Fortive (NYSE:FTV) Price Target to $93.00

Fortive (NYSE:FTV) had its target price cut by equities research analysts at Barclays from $97.00 to $93.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 24.08% from the stock’s current price.

FTV has been the subject of a number of other reports. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and raised their price objective for the company from $75.00 to $90.00 in a research report on Monday. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Citigroup reduced their target price on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company reduced their price target on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. downgraded 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 note on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.08.

Fortive Price Performance

FTV opened at $74.95 on Wednesday. The company has a fifty day simple moving average of $74.47 and a 200 day simple moving average of $78.16. The stock has a market cap of $26.38 billion, a P/E ratio of 29.62, a P/E/G ratio of 2.16 and a beta of 1.12. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. Fortive has a 12 month low of $63.05 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. On average, research analysts expect that Fortive will post 3.8 EPS for the current year.

Institutional Investors Weigh In On Fortive

Several institutional investors and hedge funds have recently made changes to their positions in FTV. Indiana Trust & Investment Management CO bought a new position in Fortive in the first quarter worth approximately $26,000. Cetera Trust Company N.A bought a new position in Fortive in the fourth quarter worth approximately $28,000. Advisors Asset Management Inc. bought a new position in Fortive in the first quarter worth approximately $32,000. Spire Wealth Management boosted its holdings in Fortive by 69.3% in the fourth quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock worth $37,000 after acquiring an additional 208 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in Fortive in the fourth quarter worth approximately $38,000. 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.