Fortive Corporation (NYSE:FTV) Receives $63.10 Consensus PT from Brokerages

Shares of Fortive Corporation (NYSE:FTV) have been assigned an average rating of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $63.10.

FTV has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their target price on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, May 12th. Morgan Stanley raised their price target on shares of Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada lifted their price target on shares of Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Finally, Citigroup upped their price target on shares of Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st.

Insider Activity at Fortive

In other 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 transaction of $533,492.58. Following the transaction, the senior vice president owned 79,118 shares of the company’s stock, valued at approximately $4,872,877.62. This trade represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

Institutional Trading of Fortive

Several institutional investors and hedge funds have recently bought and sold shares of FTV. Eurizon Capital SGR S.p.A. acquired a new position in Fortive in the fourth quarter worth $20,387,000. WINTON GROUP Ltd acquired a new stake in shares of Fortive during the fourth quarter worth $6,729,000. ABN Amro Investment Solutions bought a new position in shares of Fortive in the 4th quarter worth about $1,229,000. Hsbc Holdings PLC lifted its position in shares of Fortive by 7.0% in the 4th quarter. Hsbc Holdings PLC now owns 2,026,810 shares of the technology company’s stock worth $112,066,000 after buying an additional 133,447 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Fortive in the 1st quarter worth about $11,854,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

NYSE:FTV opened at $58.93 on Monday. The firm has a 50-day moving average of $61.17 and a two-hundred day moving average of $59.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.24 and a quick ratio of 1.00. The stock has a market cap of $17.80 billion, a P/E ratio of 34.87 and a beta of 1.06. Fortive has a 1-year low of $46.54 and a 1-year high of $64.56.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The company’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, research analysts expect that Fortive will post 3.01 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 22nd were given a $0.06 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Fortive’s payout ratio is presently 14.20%.

Fortive announced that its board has authorized a stock buyback program on Monday, May 4th that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.