Fortive (NYSE:FTV) Earns Hold Rating from Credit Suisse Group

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Credit Suisse Group reissued their hold rating on shares of Fortive (NYSE:FTV) in a research note issued to investors on Tuesday morning, AnalystRatings.com reports. Credit Suisse Group currently has a $76.00 target price on the technology company’s stock.

Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of Fortive from a buy rating to a hold rating in a report on Monday, May 13th. Cowen lowered shares of Fortive from a market perform rating to an underperform rating and decreased their target price for the company from $75.00 to $65.00 in a report on Monday, June 3rd. Gordon Haskett lowered shares of Fortive from a buy rating to a hold rating in a report on Monday, August 5th. Barclays decreased their target price on shares of Fortive from $89.00 to $84.00 and set an overweight rating on the stock in a report on Thursday, September 5th. Finally, Zacks Investment Research lowered shares of Fortive from a hold rating to a sell rating and set a $74.00 target price on the stock. in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $82.87.

FTV stock opened at $69.98 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.76. Fortive has a 12 month low of $62.89 and a 12 month high of $89.48. The firm has a market cap of $23.02 billion, a P/E ratio of 22.87, a P/E/G ratio of 2.62 and a beta of 1.22. The company’s 50-day moving average price is $71.23 and its two-hundred day moving average price is $79.36.

Fortive (NYSE:FTV) last released its earnings results on Thursday, July 25th. The technology company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. Equities analysts predict that Fortive will post 3.5 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, August 29th. Fortive’s dividend payout ratio (DPR) is presently 9.15%.

In related news, SVP Stacey A. Walker sold 34,446 shares of Fortive stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the sale, the senior vice president now directly owns 20,015 shares of the company’s stock, valued at approximately $1,415,060.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in FTV. Dimensional Fund Advisors LP grew its holdings in Fortive by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,033,586 shares of the technology company’s stock worth $69,929,000 after acquiring an additional 158,849 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Fortive by 115.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 18,511 shares of the technology company’s stock worth $1,552,000 after acquiring an additional 9,936 shares during the last quarter. Bbva Compass Bancshares Inc. grew its holdings in Fortive by 9.3% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 5,429 shares of the technology company’s stock worth $456,000 after acquiring an additional 463 shares during the last quarter. Goelzer Investment Management Inc. bought a new stake in Fortive during the 1st quarter worth approximately $830,000. Finally, Cetera Advisor Networks LLC bought a new stake in Fortive during the 1st quarter worth approximately $208,000. 82.64% of the stock is currently owned by institutional investors.

About Fortive

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Analyst Recommendations for Fortive (NYSE:FTV)

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