Fortive (NYSE:FTV) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of Fortive (NYSE:FTV) in a report released on Wednesday morning, MarketBeat reports. The firm issued a neutral rating and a $84.00 price objective on the technology company’s stock.

A number of other equities research analysts have also issued reports on FTV. Truist Financial cut their price target on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company cut their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. 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. Finally, StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.82.

Fortive Stock Up 1.5 %

FTV opened at $76.19 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The company has a market capitalization of $26.43 billion, a PE ratio of 30.35, a P/E/G ratio of 2.06 and a beta of 1.13. The stock’s fifty day moving average is $75.39 and its 200-day moving average is $74.18. Fortive has a one year low of $66.15 and a one year high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Fortive will post 3.85 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio is currently 12.75%.

Insider Buying and Selling

In related news, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the firm’s 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 in the company, valued at $3,702,336.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares in the company, valued at approximately $3,058,503.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,895 shares of company stock valued at $14,261,051. 1.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fortive

A number of hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Fortive during the 3rd quarter worth about $25,000. Ridgewood Investments LLC acquired a new position in shares of Fortive during the second quarter worth approximately $30,000. International Assets Investment Management LLC bought a new stake in shares of Fortive during the second quarter valued at approximately $30,000. Goodman Advisory Group LLC acquired a new stake in shares of Fortive in the second quarter valued at approximately $31,000. Finally, Advisors Asset Management Inc. bought a new position in Fortive in the 1st quarter worth approximately $32,000. 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.