Fortive (NYSE:FTV) Given New $65.00 Price Target at Wells Fargo & Company

Fortive (NYSE:FTV) had its price objective hoisted by stock analysts at Wells Fargo & Company from $58.00 to $65.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 7.94% from the company’s previous close.

Several other analysts have also issued reports on the company. Robert W. Baird set a $65.00 price objective on Fortive in a report on Thursday, February 5th. Barclays increased their price objective on Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday, February 9th. Mizuho reiterated an “underperform” rating and set a $51.00 price objective (down from $54.00) on shares of Fortive in a report on Monday, January 5th. Morgan Stanley increased their price objective on Fortive from $53.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 18th. Finally, Zacks Research lowered Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Fortive currently has an average rating of “Hold” and an average price target of $60.92.

Fortive Stock Up 2.0%

Shares of FTV traded up $1.19 during mid-day trading on Monday, reaching $60.22. The company’s stock had a trading volume of 1,940,714 shares, compared to its average volume of 3,691,005. The business has a fifty day moving average of $57.70 and a 200 day moving average of $55.15. The company has a market cap of $18.54 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 3.19 and a beta of 1.09. Fortive has a 1 year low of $46.34 and a 1 year high of $74.67. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.43.

Fortive (NYSE:FTV) last released its earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.04 billion. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, analysts forecast that Fortive will post 2.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fortive news, Director Kate Mitchell sold 7,131 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total transaction of $416,022.54. Following the transaction, the director directly owned 31,775 shares of the company’s stock, valued at $1,853,753.50. This represents a 18.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Fortive

Several hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC increased its position in Fortive by 43.6% during the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock worth $31,000 after buying an additional 168 shares during the last quarter. Rothschild Investment LLC grew its position in shares of Fortive by 20.5% in the fourth quarter. Rothschild Investment LLC now owns 1,113 shares of the technology company’s stock valued at $61,000 after purchasing an additional 189 shares during the last quarter. Empowered Funds LLC grew its position in shares of Fortive by 2.3% in the fourth quarter. Empowered Funds LLC now owns 8,733 shares of the technology company’s stock valued at $482,000 after purchasing an additional 197 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Fortive by 2.5% in the fourth quarter. Park Avenue Securities LLC now owns 8,401 shares of the technology company’s stock valued at $464,000 after purchasing an additional 208 shares during the last quarter. Finally, Clearstead Trust LLC grew its position in shares of Fortive by 29.8% in the fourth quarter. Clearstead Trust LLC now owns 953 shares of the technology company’s stock valued at $53,000 after purchasing an additional 219 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

About Fortive

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.