Fortive (NYSE:FTV)‘s stock had its “hold” rating restated by research analysts at Royal Bank of Canada in a research report issued on Thursday. They currently have a $79.00 target price on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 7.63% from the company’s current price.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a report on Wednesday. Argus upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. ValuEngine cut Fortive from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. BMO Capital Markets began coverage on Fortive in a report on Wednesday, November 15th. They issued an “outperform” rating and a $82.00 price target on the stock. Finally, SunTrust Banks reiterated a “buy” rating and issued a $81.00 price target on shares of Fortive in a report on Friday, October 27th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Fortive presently has an average rating of “Hold” and a consensus target price of $71.36.
Shares of Fortive (FTV) opened at $73.40 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.95. The company has a market capitalization of $25,510.00 and a price-to-earnings ratio of 27.70. Fortive has a 1-year low of $53.26 and a 1-year high of $75.69.
Fortive (NYSE:FTV) last announced its earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Fortive had a return on equity of 31.67% and a net margin of 14.39%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. research analysts expect that Fortive will post 2.85 EPS for the current fiscal year.
In other Fortive news, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the transaction, the insider now owns 166,014 shares in the company, valued at $12,142,263.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total value of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new position in Fortive during the third quarter worth about $135,000. Willingdon Wealth Management bought a new position in Fortive during the third quarter worth about $143,000. Westwood Holdings Group Inc. acquired a new stake in shares of Fortive during the second quarter worth about $139,000. Sun Life Financial INC raised its position in shares of Fortive by 21,940.0% during the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,194 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of Fortive during the second quarter worth about $147,000. Hedge funds and other institutional investors own 78.74% of the company’s stock.
Fortive Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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