Fortive (NYSE:FTV) Price Target Lowered to $90.00 at Barclays

Fortive (NYSE:FTV) had its price target decreased by Barclays from $95.00 to $90.00 in a report issued on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Other analysts have also recently issued reports about the company. Truist Financial upped their price target on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company upped their price target on shares of Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Royal Bank of Canada cut their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.64.

Fortive Trading Up 0.2 %

NYSE FTV opened at $76.80 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. Fortive has a one year low of $66.15 and a one year high of $87.10. The company’s 50 day moving average price is $76.04 and its 200 day moving average price is $74.62. The firm has a market capitalization of $26.65 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 2.11 and a beta of 1.14.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. On average, sell-side analysts predict that Fortive will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, November 29th. Fortive’s dividend payout ratio (DPR) is 12.75%.

Insiders Place Their Bets

In other news, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the sale, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Fortive

A number of institutional investors and hedge funds have recently made changes to their positions in FTV. Raymond James & Associates boosted its stake in Fortive by 15.0% during the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after purchasing an additional 51,690 shares during the period. Atomi Financial Group Inc. increased its holdings in shares of Fortive by 4.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock valued at $389,000 after purchasing an additional 226 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Fortive by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after purchasing an additional 10,795 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Fortive in the 3rd quarter valued at about $1,346,000. Finally, ProShare Advisors LLC increased its holdings in Fortive by 18.3% during the 2nd quarter. ProShare Advisors LLC now owns 52,797 shares of the technology company’s stock valued at $3,912,000 after acquiring an additional 8,149 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.