Fortive Corporation (FTV) Receives Average Recommendation of “Buy” from Analysts

Fortive Corporation (NYSE:FTV) has been given an average recommendation of “Buy” by the sixteen research firms that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $70.27.

Several equities analysts have issued reports on FTV shares. SunTrust Banks restated a “buy” rating and issued a $81.00 price objective on shares of Fortive in a research note on Friday, October 27th. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Tuesday, September 26th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $70.00 target price on shares of Fortive in a report on Wednesday, October 11th. Citigroup upped their target price on shares of Fortive from $72.00 to $74.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Finally, Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st.

In related news, insider James A. Lico sold 50,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the transaction, the insider now directly owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacey A. Walker sold 4,775 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. Corporate insiders own 12.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors increased its holdings in Fortive by 37.9% in the second quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock valued at $622,996,000 after buying an additional 2,701,496 shares in the last quarter. BlackRock Inc. increased its holdings in Fortive by 11.7% in the second quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock valued at $1,171,255,000 after buying an additional 1,934,309 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Fortive by 261.8% in the second quarter. JPMorgan Chase & Co. now owns 1,948,537 shares of the technology company’s stock valued at $123,442,000 after buying an additional 1,410,000 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Fortive by 41.2% in the second quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock valued at $210,997,000 after buying an additional 971,997 shares in the last quarter. Finally, APG Asset Management N.V. increased its holdings in Fortive by 49.7% in the third quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock valued at $154,483,000 after buying an additional 724,400 shares in the last quarter. 78.96% of the stock is owned by hedge funds and other institutional investors.

Fortive (NYSE FTV) traded up $0.34 during midday trading on Thursday, reaching $73.29. 1,119,500 shares of the company’s stock traded hands, compared to its average volume of 1,349,945. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06. Fortive has a one year low of $52.99 and a one year high of $75.69. The firm has a market capitalization of $25,354.43, a P/E ratio of 26.43, a PEG ratio of 2.52 and a beta of 0.38.

Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Fortive’s revenue for the quarter was up 7.4% on a year-over-year basis. sell-side analysts anticipate that Fortive will post 2.85 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a yield of 0.38%. Fortive’s dividend payout ratio is currently 10.57%.

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About Fortive

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.

Analyst Recommendations for Fortive (NYSE:FTV)

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