Shares of Fortive Corporation (NYSE:FTV) have been assigned an average recommendation of “Hold” from the eighteen analysts that are covering the firm, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $58.58.
A number of analysts have weighed in on FTV shares. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Wednesday, April 12th. SunTrust Banks, Inc. raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Wednesday, March 29th. Barclays PLC set a $66.00 price target on Fortive Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Morgan Stanley cut Fortive Corporation from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $61.00 to $65.00 in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Fortive Corporation in a research report on Monday, May 22nd.
Fortive Corporation (NYSE FTV) traded up 1.60% during midday trading on Tuesday, hitting $64.05. The stock had a trading volume of 1,676,673 shares. The stock has a market cap of $22.20 billion and a P/E ratio of 25.13. Fortive Corporation has a 12-month low of $43.00 and a 12-month high of $64.27. The company’s 50-day moving average price is $62.80 and its 200 day moving average price is $58.46.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, April 27th. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Fortive Corporation had a return on equity of 34.24% and a net margin of 14.16%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts predict that Fortive Corporation will post $2.75 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, May 26th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.44%. Fortive Corporation’s payout ratio is presently 10.98%.
In related news, VP Raj Ratnakar sold 11,642 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total transaction of $725,413.02. Following the transaction, the vice president now directly owns 5,020 shares in the company, valued at $312,796.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Emily A. Weaver sold 3,749 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. Insiders sold 147,385 shares of company stock worth $9,187,369 over the last quarter.
A number of institutional investors have recently modified their holdings of the stock. Cadence Capital Management LLC raised its position in shares of Fortive Corporation by 5.4% in the fourth quarter. Cadence Capital Management LLC now owns 8,596 shares of the technology company’s stock valued at $461,000 after buying an additional 440 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Fortive Corporation by 110.3% in the fourth quarter. Bessemer Group Inc. now owns 6,447 shares of the technology company’s stock valued at $346,000 after buying an additional 3,382 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Fortive Corporation by 804.9% in the fourth quarter. Van ECK Associates Corp now owns 6,696 shares of the technology company’s stock valued at $359,000 after buying an additional 5,956 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Fortive Corporation by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,243 shares of the technology company’s stock valued at $925,000 after buying an additional 72 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Fortive Corporation by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 903,575 shares of the technology company’s stock valued at $48,461,000 after buying an additional 7,906 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.
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About Fortive Corporation
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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