Fortive (NYSE:FTV) Stock Gets Price Target Reduction from Royal Bank Of Canada

Fortive (NYSE:FTV) had its price objective lowered by Royal Bank Of Canada from $63.00 to $59.00 in a report published on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on the company. Argus reiterated a “buy” rating and issued a $68.00 price target on shares of Fortive in a report on Wednesday, August 19th. Weiss Ratings cut Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. Evercore initiated coverage on Fortive in a research note on Monday, September 28th. They set a “hold” rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Fortive from $64.00 to $56.00 and set an “underweight” rating for the company in a report on Friday, October 9th. Finally, Truist Financial lowered their target price on shares of Fortive from $68.00 to $63.00 and set a “hold” rating for the company in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.27.

Fortive Stock Down 0.1%

Shares of Fortive stock opened at $57.72 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 0.58. The firm has a market cap of $17.43 billion, a P/E ratio of 19.13, a P/E/G ratio of 2.39 and a beta of 1.07. Fortive has a fifty-two week low of $48.29 and a fifty-two week high of $64.56. The business has a 50-day moving average price of $57.61 and a 200 day moving average price of $59.35.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. Fortive had a return on equity of 15.33% and a net margin of 12.38%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Fortive’s revenue for the quarter was up 8.0% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, sell-side analysts forecast that Fortive will post 3.02 earnings per share for the current fiscal year.

Fortive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a dividend of $0.07 per share. This is an increase from Fortive’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, September 4th. Fortive’s payout ratio is currently 16.57%.

Insider Buying and Selling at Fortive

In related news, SVP Peter C. Underwood sold 8,662 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $61.59, for a total value of $533,492.58. Following the sale, the senior vice president owned 79,118 shares of the company’s stock, valued at $4,872,877.62. This trade represents a 9.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mather Group LLC. grew its position in Fortive by 86.8% in the 3rd quarter. Mather Group LLC. now owns 467 shares of the technology company’s stock worth $26,000 after purchasing an additional 217 shares during the last quarter. Virtus Advisers LLC bought a new stake in shares of Fortive during the second quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Fortive during the second quarter valued at approximately $30,000. Main Street Group LTD bought a new stake in shares of Fortive during the first quarter valued at approximately $31,000. Finally, Dakota Community Bank & Trust NA boosted its position in shares of Fortive by 59.2% during the first quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company’s stock worth $39,000 after buying an additional 261 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

About Fortive

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides connected products, software, and services for customers in healthcare, manufacturing, infrastructure, and other regulated or asset-intensive industries. Its offerings are designed to improve productivity, operating efficiency, safety, compliance, and the reliability of critical equipment and processes.

The company’s businesses have included electronic test and measurement instruments, calibration and asset-management solutions, workplace and public-safety products, industrial software, and healthcare technologies.