Fortive Corporation (NYSE:FTV) Receives Average Recommendation of “Hold” from Brokerages

Fortive Corporation (NYSE:FTV) has been assigned a consensus recommendation of “Hold” from the seventeen analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $57.6154.

Several research analysts have commented on FTV shares. Citigroup upped their price objective on shares of Fortive from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, December 8th. Zacks Research upgraded shares of Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Morgan Stanley increased their price target on shares of Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Barclays raised their price objective on shares of Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Finally, Robert W. Baird increased their target price on Fortive from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th.

Insider Activity at Fortive

In other news, SVP Stacey A. Walker sold 2,192 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the sale, the senior vice president directly owned 59,488 shares of the company’s stock, valued at $2,995,220.80. This represents a 3.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Fortive

Hedge funds have recently bought and sold shares of the business. Valeo Financial Advisors LLC increased its stake in shares of Fortive by 5.1% during the second quarter. Valeo Financial Advisors LLC now owns 4,078 shares of the technology company’s stock valued at $213,000 after purchasing an additional 199 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Fortive by 2.5% in the 4th quarter. Park Avenue Securities LLC now owns 8,401 shares of the technology company’s stock worth $464,000 after purchasing an additional 208 shares in the last quarter. Mirador Capital Partners LP grew its stake in shares of Fortive by 2.0% in the 2nd quarter. Mirador Capital Partners LP now owns 11,349 shares of the technology company’s stock worth $592,000 after buying an additional 219 shares during the last quarter. Moody National Bank Trust Division increased its position in Fortive by 4.3% during the 2nd quarter. Moody National Bank Trust Division now owns 5,749 shares of the technology company’s stock valued at $300,000 after buying an additional 235 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Fortive by 46.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after buying an additional 236 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 2.0%

Shares of NYSE:FTV opened at $55.22 on Friday. The stock’s 50-day moving average is $53.41 and its 200 day moving average is $51.52. The company has a market cap of $17.54 billion, a PE ratio of 31.55, a P/E/G ratio of 3.04 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.58. Fortive has a 1 year low of $46.34 and a 1 year high of $83.32.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The firm had revenue of $1.07 billion for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%.Fortive has set its FY 2025 guidance at 2.630-2.67 EPS. Sell-side analysts anticipate that Fortive will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, November 28th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.24 annualized dividend and a yield of 0.4%. Fortive’s dividend payout ratio (DPR) is currently 13.71%.

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.