Barclays Boosts Fortive (NYSE:FTV) Price Target to $98.00

Fortive (NYSE:FTV) had its price objective hoisted by Barclays from $96.00 to $98.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

FTV has been the topic of a number of other research reports. Wolfe Research lowered shares of Fortive from an outperform rating to a peer perform rating in a report on Friday, September 6th. Mizuho upgraded shares of Fortive from a neutral rating to an outperform rating and upped their target price for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Raymond James upgraded shares of Fortive from a market perform rating to an outperform rating and set a $85.00 target price on the stock in a research report on Thursday, September 5th. Morgan Stanley assumed coverage on shares of Fortive in a research report on Friday, September 6th. They set an overweight rating and a $89.00 target price on the stock. Finally, Royal Bank of Canada restated a sector perform rating and set a $77.00 target price on shares of Fortive in a research report on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $86.54.

Fortive Stock Up 0.2 %

Shares of NYSE:FTV opened at $76.90 on Wednesday. Fortive has a 12 month low of $63.05 and a 12 month high of $87.10. The company’s 50-day moving average price is $72.92 and its two-hundred day moving average price is $75.70. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The firm has a market cap of $27.07 billion, a P/E ratio of 30.40, a P/E/G ratio of 2.22 and a beta of 1.12.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts forecast that Fortive will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s dividend payout ratio is 12.65%.

Insider Activity at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Fortive

A number of large investors have recently bought and sold shares of FTV. Janus Henderson Group PLC increased its stake in Fortive by 47.1% during the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after purchasing an additional 1,999,792 shares in the last quarter. Boston Partners grew its stake in shares of Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after acquiring an additional 1,045,245 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Fortive by 78.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock worth $63,221,000 after acquiring an additional 373,957 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Fortive by 70.1% during the 1st quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after acquiring an additional 369,351 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Fortive by 1,053.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock worth $28,359,000 after acquiring an additional 349,530 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

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.