Stifel Nicolaus reiterated their hold rating on shares of Fortive Corporation (NYSE:FTV) in a research report report published on Sunday, July 30th. They currently have a $62.00 price objective on the technology company’s stock.
Several other brokerages also recently issued reports on FTV. Morgan Stanley reissued an equal weight rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Zacks Investment Research upgraded Fortive Corporation from a hold rating to a buy rating and set a $71.00 target price on the stock in a research report on Monday, July 24th. Barclays PLC set a $66.00 target price on Fortive Corporation and gave the company a buy rating in a research report on Sunday, April 30th. Oppenheimer Holdings, Inc. restated a hold rating on shares of Fortive Corporation in a research report on Monday, May 22nd. Finally, Cowen and Company raised their target price on Fortive Corporation from $46.00 to $52.00 and gave the company a market perform rating in a research report on Wednesday, April 19th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $61.82.
Fortive Corporation (NYSE:FTV) traded up 0.11% on Friday, hitting $65.60. The stock had a trading volume of 705,331 shares. The company has a market cap of $22.77 billion, a price-to-earnings ratio of 25.84 and a beta of 0.23. The company’s 50 day moving average price is $64.42 and its 200-day moving average price is $61.24. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $67.48.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Equities research analysts anticipate that Fortive Corporation will post $2.79 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio (DPR) is presently 11.02%.
In other news, VP Raj Ratnakar sold 11,642 shares of Fortive Corporation stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total transaction of $725,413.02. Following the transaction, the vice president now directly owns 5,020 shares in the company, valued at approximately $312,796.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Emily A. Weaver sold 3,749 shares of Fortive Corporation stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Fortive Corporation by 2,497.9% in the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock worth $996,902,000 after buying an additional 15,917,140 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Fortive Corporation by 64,460.2% in the second quarter. Bessemer Group Inc. now owns 2,640,512 shares of the technology company’s stock worth $167,275,000 after buying an additional 2,636,422 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of Fortive Corporation during the first quarter worth about $115,464,000. Marshall Wace North America L.P. bought a new position in shares of Fortive Corporation during the first quarter worth about $115,464,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Fortive Corporation by 261.8% in the second quarter. JPMorgan Chase & Co. now owns 1,948,537 shares of the technology company’s stock worth $123,442,000 after buying an additional 1,410,000 shares during the last quarter. Institutional investors own 79.85% of the company’s stock.
Fortive Corporation Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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