Fortive (NYSE:FTV) Price Target Lowered to $90.00 at JPMorgan Chase & Co.

Fortive (NYSE:FTV) had its price target reduced by analysts at JPMorgan Chase & Co. from $92.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 15.76% from the stock’s current price.

FTV has been the subject of a number of other research reports. UBS Group assumed coverage on shares of Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target for the company. Argus reissued a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Truist Financial raised their price target on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company boosted their price target on Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 7th. Finally, Citigroup cut Fortive from a “buy” rating to a “neutral” rating and cut their price target for the company from $92.00 to $86.00 in a research note on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.45.

Fortive Price Performance

Shares of FTV stock opened at $77.75 on Wednesday. Fortive has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The stock has a market cap of $26.98 billion, a PE ratio of 30.98, a PEG ratio of 2.11 and a beta of 1.14. The firm’s 50 day moving average price is $76.44 and its two-hundred day moving average price is $74.71.

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

Insider Activity at Fortive

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

Hedge Funds Weigh In On Fortive

A number of institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its stake in Fortive by 10.1% during the second quarter. Envestnet Asset Management Inc. now owns 897,881 shares of the technology company’s stock worth $66,533,000 after acquiring an additional 82,231 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Fortive by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after purchasing an additional 205,893 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in Fortive by 275.7% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 10,072 shares of the technology company’s stock valued at $746,000 after purchasing an additional 7,391 shares during the last quarter. Argent Trust Co grew its holdings in shares of Fortive by 2.3% during the second quarter. Argent Trust Co now owns 15,811 shares of the technology company’s stock valued at $1,172,000 after buying an additional 348 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Fortive by 16.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,487 shares of the technology company’s stock worth $1,074,000 after acquiring an additional 2,001 shares during the last quarter. 94.94% of the stock is owned by 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.