Barclays Has Lowered Expectations for Fortive (NYSE:FTV) Stock Price

Fortive (NYSE:FTV) had its target price cut by stock analysts at Barclays from $95.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 17.39% from the company’s current price.

A number of other equities research analysts also recently commented on FTV. Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. UBS Group began coverage on shares of Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price on the stock. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Wells Fargo & Company upped their price objective on shares of Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.64.

Fortive Trading Up 0.2 %

Shares of FTV opened at $76.67 on Wednesday. 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 market cap of $26.60 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14. The firm has a 50 day simple moving average of $75.94 and a 200-day simple moving average of $74.61.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. Equities analysts forecast that Fortive will post 3.85 EPS for the current fiscal year.

Insider Buying and Selling at Fortive

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its holdings in Fortive by 23.9% in the fourth quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock worth $118,292,000 after purchasing an additional 303,788 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Fortive in the fourth quarter valued at approximately $202,000. Versant Capital Management Inc boosted its holdings in shares of Fortive by 186.8% in the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after acquiring an additional 297 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after acquiring an additional 10,795 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new stake in Fortive during the third quarter worth approximately $854,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.