Fortive (NYSE:FTV) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Fortive (NYSE:FTV) from a buy rating to a hold rating in a research note published on Monday morning.

A number of other analysts have also issued reports on the company. Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Wells Fargo & Company boosted their price objective on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. dropped their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. UBS Group initiated coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price for the company. Finally, Royal Bank of Canada upped their target price on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.64.

Fortive Stock Performance

Shares of NYSE:FTV opened at $80.18 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The business’s 50 day moving average price is $77.72 and its 200-day moving average price is $75.53. The firm has a market capitalization of $27.82 billion, a PE ratio of 31.94, a P/E/G ratio of 2.14 and a beta of 1.15. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same period last year, the firm earned $0.98 EPS. As a group, equities research analysts expect that Fortive will post 3.84 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio is presently 12.75%.

Hedge Funds Weigh In On Fortive

A number of hedge funds have recently modified their holdings of FTV. Norges Bank purchased a new position in shares of Fortive during the 4th quarter worth $412,445,000. Mizuho Securities USA LLC lifted its stake in Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after acquiring an additional 3,972,855 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Fortive during the 4th quarter worth about $136,794,000. Point72 Asset Management L.P. lifted its stake in Fortive by 1,005.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock worth $152,899,000 after acquiring an additional 1,761,983 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after acquiring an additional 977,428 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.