Fortive (NYSE:FTV) Now Covered by Evercore

Stock analysts at Evercore initiated coverage on shares of Fortive (NYSE:FTV) in a research note issued on Monday, Marketbeat.com reports. The firm set a “hold” rating and a $60.00 price target on the technology company’s stock. Evercore’s target price would indicate a potential upside of 7.59% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Morgan Stanley upped their price target on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. Argus reaffirmed a “buy” rating and issued a $68.00 price target on shares of Fortive in a research report on Wednesday, August 19th. Weiss Ratings downgraded shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Finally, Truist Financial reissued a “hold” rating and set a $68.00 target price (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.82.

Fortive Trading Down 0.6%

Shares of NYSE FTV opened at $55.77 on Monday. Fortive has a 1-year low of $47.71 and a 1-year high of $64.56. The company has a 50-day moving average of $58.71 and a two-hundred day moving average of $59.19. The company has a market cap of $16.84 billion, a PE ratio of 33.00, a P/E/G ratio of 2.32 and a beta of 1.05. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. As a group, equities analysts expect that Fortive will post 3.02 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Peter C. Underwood sold 8,662 shares of the stock in a transaction that occurred on 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 in the company, valued at $4,872,877.62. This represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. QRG Capital Management Inc. grew its holdings in Fortive by 13.8% during the 2nd quarter. QRG Capital Management Inc. now owns 17,973 shares of the technology company’s stock valued at $1,098,000 after buying an additional 2,175 shares in the last quarter. Security National Bank of Sioux City Iowa IA boosted its position in shares of Fortive by 28.0% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 13,954 shares of the technology company’s stock valued at $852,000 after acquiring an additional 3,052 shares during the last quarter. Anchor Investment Management LLC grew its holdings in shares of Fortive by 156.5% in the second quarter. Anchor Investment Management LLC now owns 690 shares of the technology company’s stock valued at $42,000 after purchasing an additional 421 shares in the last quarter. Core Capital Management & Research inc. bought a new stake in Fortive in the second quarter worth $296,000. Finally, Sequoia Financial Advisors LLC increased its position in Fortive by 2.5% in the second quarter. Sequoia Financial Advisors LLC now owns 25,163 shares of the technology company’s stock worth $1,537,000 after purchasing an additional 621 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

About Fortive

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides essential products, software and services for customers in healthcare, manufacturing, utilities, commercial facilities and other professional markets. Its businesses focus on improving workplace productivity, safety, compliance, asset performance and operational efficiency.

Fortive’s portfolio has included brands such as Fluke, Tektronix, Industrial Scientific, Accruent, Gordian, Provation and ASP.