Fortive (NYSE:FTV) Price Target Raised to $96.00

Fortive (NYSE:FTV) had its target price upped by research analysts at Barclays from $94.00 to $96.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target indicates a potential upside of 21.24% from the company’s previous close.

FTV has been the topic of a number of other research reports. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research report on Thursday, September 5th. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $90.00 in a research report on Monday, July 8th. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company dropped their price target on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $86.38.

Fortive Stock Performance

Shares of Fortive stock opened at $79.18 on Thursday. The stock’s fifty day moving average is $72.39 and its two-hundred day moving average is $76.02. The company has a market capitalization of $27.87 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. Fortive has a 52 week low of $63.05 and a 52 week high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. As a group, analysts expect that Fortive will post 3.82 earnings per share for the current year.

Insider Buying and Selling

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FTV. Indiana Trust & Investment Management CO purchased a new stake in Fortive in the first quarter valued at approximately $26,000. Advisors Asset Management Inc. purchased a new stake in shares of Fortive in the 1st quarter valued at $32,000. Ridgewood Investments LLC acquired a new stake in shares of Fortive in the second quarter worth $30,000. International Assets Investment Management LLC purchased a new position in shares of Fortive during the second quarter worth $30,000. Finally, Goodman Advisory Group LLC acquired a new position in Fortive during the second quarter valued at $31,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.