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.
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.
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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