Fortive (NYSE:FTV) Given New $80.00 Price Target at Wells Fargo & Company

Fortive (NYSE:FTV) had its price objective raised by investment analysts at Wells Fargo & Company from $77.00 to $80.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 3.95% from the company’s previous close.

Several other equities research analysts have also recently weighed in on FTV. Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and dropped their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and raised their target price for the company from $90.00 to $92.00 in a research note on Thursday, October 10th. Barclays lowered their price target on Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. UBS Group began coverage on Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective on the stock. Finally, StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Fortive presently has an average rating of “Moderate Buy” and a consensus target price of $87.09.

Fortive Price Performance

NYSE FTV traded up $0.44 during trading hours on Tuesday, reaching $76.96. 256,782 shares of the stock traded hands, compared to its average volume of 1,656,482. The company has a market cap of $26.70 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10. The stock has a 50 day simple moving average of $75.90 and a two-hundred day simple moving average of $74.58.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that Fortive will post 3.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fortive

Several large investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its position in shares of Fortive by 3.6% during the 3rd quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock valued at $308,000 after purchasing an additional 135 shares during the last quarter. Patton Albertson Miller Group LLC increased its position in Fortive by 1.7% during the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after acquiring an additional 150 shares during the last quarter. Andina Capital Management LLC raised its stake in shares of Fortive by 3.4% in the third quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock valued at $362,000 after acquiring an additional 152 shares during the period. Axiom Advisory LLC lifted its holdings in shares of Fortive by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 10,048 shares of the technology company’s stock worth $734,000 after acquiring an additional 157 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC boosted its stake in shares of Fortive by 4.7% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 3,641 shares of the technology company’s stock worth $270,000 after purchasing an additional 162 shares during the period. 94.94% of the stock is owned by 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.