Raymond James Lowers Fortive (NYSE:FTV) to Market Perform

Share on StockTwits

Raymond James lowered shares of Fortive (NYSE:FTV) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday morning, Benzinga reports.

FTV has been the topic of a number of other research reports. Morgan Stanley raised shares of Fortive from an equal weight rating to an overweight rating and increased their price target for the stock from $70.00 to $91.00 in a report on Wednesday, December 11th. Royal Bank of Canada reissued a hold rating and issued a $79.00 price target on shares of Fortive in a report on Wednesday, December 18th. Zacks Investment Research raised shares of Fortive from a hold rating to a buy rating and set a $81.00 price target on the stock in a report on Friday, January 3rd. Rosenblatt Securities reissued a hold rating and issued a $77.00 price target on shares of Fortive in a report on Monday, February 3rd. Finally, Citigroup raised shares of Fortive from a neutral rating to a buy rating and increased their price target for the stock from $76.00 to $84.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $81.85.

NYSE FTV opened at $77.81 on Tuesday. Fortive has a 1 year low of $63.51 and a 1 year high of $89.48. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.06 and a quick ratio of 0.88. The stock has a market capitalization of $25.94 billion, a PE ratio of 22.13, a P/E/G ratio of 3.45 and a beta of 1.22. The company’s 50 day simple moving average is $77.29 and its two-hundred day simple moving average is $72.46.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, February 6th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.06. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Fortive had a net margin of 10.09% and a return on equity of 17.53%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. On average, research analysts anticipate that Fortive will post 3.75 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 28th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Thursday, February 27th. Fortive’s dividend payout ratio is currently 8.05%.

Hedge funds have recently added to or reduced their stakes in the stock. CFM Wealth Partners LLC bought a new position in shares of Fortive during the 4th quarter valued at $33,000. Acadian Asset Management LLC purchased a new stake in Fortive during the 4th quarter valued at $37,000. Meeder Asset Management Inc. boosted its position in Fortive by 41.3% during the 4th quarter. Meeder Asset Management Inc. now owns 486 shares of the technology company’s stock valued at $37,000 after buying an additional 142 shares during the period. Atlantic Trust LLC purchased a new stake in Fortive during the 4th quarter valued at $37,000. Finally, S.A. Mason LLC purchased a new stake in Fortive during the 4th quarter valued at $38,000. 82.32% 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.

Recommended Story: Liquidity

Analyst Recommendations for Fortive (NYSE:FTV)

Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

JPMorgan Chase & Co. Downgrades TPI Composites  to Neutral
JPMorgan Chase & Co. Downgrades TPI Composites to Neutral
Viad Corp  Insider Purchases $98,434.00 in Stock
Viad Corp Insider Purchases $98,434.00 in Stock
Raymond James Lowers Fortive  to Market Perform
Raymond James Lowers Fortive to Market Perform
i3 Verticals  Rating Lowered to Neutral at BTIG Research
i3 Verticals Rating Lowered to Neutral at BTIG Research
Insider Selling: PennyMac Financial Services Inc  Director Sells 2,500 Shares of Stock
Insider Selling: PennyMac Financial Services Inc Director Sells 2,500 Shares of Stock
Haymaker Acquisition  Lifted to Hold at Zacks Investment Research
Haymaker Acquisition Lifted to Hold at Zacks Investment Research


© 2006-2020 Ticker Report