Fortive (NYSE:FTV) Price Target Raised to $85.00

Fortive (NYSE:FTV) had its target price hoisted by Wells Fargo & Company from $80.00 to $85.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

Several other analysts also recently commented on FTV. Royal Bank of Canada lowered their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. JPMorgan Chase & Co. lowered their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Finally, Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and lowered their target price for the company from $92.00 to $86.00 in a report on Monday, December 9th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

Fortive Stock Performance

FTV opened at $80.18 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $77.72 and its two-hundred day moving average price is $75.53. Fortive has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a market cap of $27.82 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTV) last released its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same quarter in the prior year, the business earned $0.98 EPS. On average, analysts expect that Fortive will post 3.84 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s dividend payout ratio is presently 12.75%.

Hedge Funds Weigh In On Fortive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTV. Mather Group LLC. boosted its position in Fortive by 50.3% during the third quarter. Mather Group LLC. now owns 926 shares of the technology company’s stock worth $73,000 after purchasing an additional 310 shares during the period. CWM LLC boosted its position in Fortive by 5.3% during the third quarter. CWM LLC now owns 10,031 shares of the technology company’s stock worth $792,000 after purchasing an additional 508 shares during the period. Wedmont Private Capital boosted its position in Fortive by 5.5% during the third quarter. Wedmont Private Capital now owns 3,209 shares of the technology company’s stock worth $245,000 after purchasing an additional 168 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Fortive by 276.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,043 shares of the technology company’s stock worth $161,000 after purchasing an additional 1,500 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in Fortive during the third quarter worth about $41,000. 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.