Fortive’s (FTV) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their underweight rating on shares of Fortive (NYSE:FTV) in a report published on Friday morning, Marketbeat Ratings reports. They currently have a $57.00 price target on the technology company’s stock, up from their prior price target of $55.00.

Several other equities analysts also recently issued reports on FTV. Truist Financial reissued a “hold” rating and set a $58.00 price objective (up previously from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Morgan Stanley increased their price target on Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Barclays upped their target price on Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Finally, Mizuho reissued an “underperform” rating and issued a $51.00 price target (down from $54.00) on shares of Fortive in a research note on Monday, January 5th. Two research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Fortive currently has a consensus rating of “Hold” and an average price target of $57.77.

Fortive Stock Down 0.9%

FTV opened at $54.99 on Friday. The firm has a market cap of $17.47 billion, a P/E ratio of 31.42, a PEG ratio of 3.08 and a beta of 1.13. The business’s fifty day simple moving average is $53.98 and its 200 day simple moving average is $50.97. Fortive has a 52 week low of $46.34 and a 52 week high of $83.32. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 29th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $0.97 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.630-2.67 EPS. As a group, equities research analysts anticipate that Fortive will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, November 28th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, November 28th. Fortive’s dividend payout ratio (DPR) is 13.71%.

Insider Buying and Selling at Fortive

In other news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the transaction, the senior vice president directly owned 59,488 shares of the company’s stock, valued at $2,995,220.80. The trade was a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in shares of Fortive by 97.1% during the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after buying an additional 2,811 shares during the period. Empowered Funds LLC grew its position in Fortive by 6.9% in the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock valued at $484,000 after acquiring an additional 430 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares during the period. Czech National Bank raised its stake in shares of Fortive by 6.0% during the second quarter. Czech National Bank now owns 83,055 shares of the technology company’s stock valued at $4,330,000 after purchasing an additional 4,687 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its position in shares of Fortive by 103.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 5,826 shares of the technology company’s stock worth $304,000 after purchasing an additional 2,967 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Company Profile

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.