Fortive (NYSE:FTV) Now Covered by Analysts at Evercore

Stock analysts at Evercore initiated coverage on shares of Fortive (NYSE:FTV) in a report released on Monday, Briefing.com reports. The brokerage set an “inline” rating and a $60.00 price target on the technology company’s stock. Evercore’s target price points to a potential upside of 7.67% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial restated a “hold” rating and issued a $68.00 price target (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Weiss Ratings cut shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. Morgan Stanley increased their target price on Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Finally, Argus reaffirmed a “buy” rating and set a $68.00 target price on shares of Fortive in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Fortive presently has a consensus rating of “Hold” and a consensus target price of $62.82.

Fortive Stock Down 0.6%

FTV stock traded down $0.36 during midday trading on Monday, reaching $55.73. 749,503 shares of the company’s stock traded hands, compared to its average volume of 3,164,238. Fortive has a 52 week low of $47.71 and a 52 week high of $64.56. The company has a market cap of $16.83 billion, a price-to-earnings ratio of 32.94, a P/E/G ratio of 2.32 and a beta of 1.05. The firm’s fifty day moving average price is $58.82 and its 200-day moving average price is $59.19. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 0.58.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 EPS 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%. Fortive’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. As a group, sell-side analysts forecast that Fortive will post 3.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Peter C. Underwood sold 8,662 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $61.59, for a total transaction of $533,492.58. Following the sale, the senior vice president owned 79,118 shares in the company, valued at approximately $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 accessible through this link. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortive

A number of hedge funds and other institutional investors have recently bought and sold shares of FTV. BlackRock Inc. purchased a new position in Fortive in the second quarter valued at approximately $1,626,463,000. Flossbach Von Storch SE purchased a new stake in Fortive during the 2nd quarter valued at $739,668,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Fortive in the 2nd quarter worth $527,526,000. Norges Bank purchased a new stake in Fortive during the 4th quarter valued at $491,928,000. Finally, Geode Capital Management LLC grew its holdings in Fortive by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 8,787,747 shares of the technology company’s stock worth $483,327,000 after acquiring an additional 116,939 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

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.