Wells Fargo & Company Raises Fortive (NYSE:FTV) Price Target to $65.00

Fortive (NYSE:FTV) had its target price raised by analysts at Wells Fargo & Company from $59.00 to $65.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 8.06% from the stock’s previous close.

Several other equities analysts have also recently commented on FTV. Morgan Stanley boosted their price target on shares of Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $57.00 price objective (up previously from $55.00) on shares of Fortive in a research note on Friday, January 16th. Citigroup boosted their target price on Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday. Truist Financial reaffirmed a “hold” rating and set a $58.00 price target (up from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Finally, Mizuho reiterated an “underperform” rating and set a $51.00 price target (down from $54.00) on shares of Fortive in a research report on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Fortive has an average rating of “Hold” and a consensus target price of $59.85.

Fortive Stock Down 0.1%

Shares of Fortive stock opened at $60.15 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.58. Fortive has a 1-year low of $46.34 and a 1-year high of $83.32. The business’s fifty day moving average price is $54.91 and its two-hundred day moving average price is $51.31. The company has a market capitalization of $19.10 billion, a P/E ratio of 34.77, a PEG ratio of 3.25 and a beta of 1.12.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $1.17 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, research analysts forecast that Fortive will post 4.05 EPS for the current year.

Institutional Investors Weigh In On Fortive

Institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC raised its position in shares of Fortive by 57.6% during the fourth quarter. Global Retirement Partners LLC now owns 1,157 shares of the technology company’s stock worth $64,000 after purchasing an additional 423 shares during the period. ABN Amro Investment Solutions purchased a new position in Fortive in the 4th quarter worth about $1,229,000. Sapient Capital LLC acquired a new stake in Fortive during the 4th quarter worth about $265,000. North Dakota State Investment Board purchased a new stake in Fortive during the fourth quarter valued at about $643,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in shares of Fortive in the fourth quarter worth about $210,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.