Wells Fargo & Company Has Lowered Expectations for Fortive (NYSE:FTV) Stock Price

Fortive (NYSE:FTV) had its price objective decreased by Wells Fargo & Company from $65.00 to $58.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 3.55% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Citigroup lifted their target price on shares of Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Barclays boosted their target price on Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on Fortive from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Wednesday, February 11th. Finally, Robert W. Baird set a $65.00 price objective on shares of Fortive in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.69.

Fortive Stock Up 1.3%

NYSE:FTV traded up $0.73 during trading hours on Wednesday, hitting $56.01. 875,950 shares of the stock traded hands, compared to its average volume of 3,875,119. The firm has a market cap of $17.24 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 2.89 and a beta of 1.10. The firm has a 50 day moving average price of $56.37 and a 200 day moving average price of $53.51. The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. Fortive has a fifty-two week low of $46.34 and a fifty-two week high of $74.67.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.07. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business earned $1.17 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities research analysts anticipate that Fortive will post 4.05 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FTV. DV Equities LLC acquired a new position in Fortive during the 4th quarter valued at $25,000. Quent Capital LLC bought a new position in shares of Fortive during the 3rd quarter worth about $28,000. Root Financial Partners LLC lifted its stake in shares of Fortive by 43.6% in the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after buying an additional 168 shares during the period. Exchange Traded Concepts LLC grew its position in Fortive by 46.7% during the third quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock worth $36,000 after buying an additional 236 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Company Profile

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.