Fortive (FTV) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Fortive (NYSE:FTV) from a hold rating to a buy rating in a report released on Saturday, ValuEngine reports.

A number of other equities research analysts have also weighed in on FTV. Zacks Investment Research lowered Fortive from a buy rating to a hold rating in a research note on Friday, February 15th. Barclays raised their price objective on Fortive from $81.00 to $88.00 and gave the company an overweight rating in a research note on Wednesday, April 3rd. TheStreet upgraded Fortive from a c rating to a b- rating in a research note on Wednesday, January 30th. William Blair restated a market perform rating on shares of Fortive in a research note on Tuesday, February 12th. Finally, Credit Suisse Group restated a neutral rating and set a $78.00 price objective (down previously from $86.00) on shares of Fortive in a research note on Thursday, January 3rd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $85.90.

Shares of NYSE FTV opened at $87.82 on Friday. Fortive has a fifty-two week low of $62.89 and a fifty-two week high of $88.36. The company has a quick ratio of 1.18, a current ratio of 1.45 and a debt-to-equity ratio of 0.45. The company has a market cap of $29.33 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, February 7th. The technology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Fortive had a return on equity of 22.42% and a net margin of 40.50%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm earned $0.82 EPS. Fortive’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts expect that Fortive will post 3.54 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Thursday, May 30th. Fortive’s dividend payout ratio is presently 9.15%.

In other Fortive news, SVP Stacey A. Walker sold 1,783 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $81.87, for a total transaction of $145,974.21. Following the transaction, the senior vice president now owns 16,036 shares of the company’s stock, valued at approximately $1,312,867.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jonathan L. Schwarz sold 3,746 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $81.63, for a total value of $305,785.98. Following the transaction, the vice president now directly owns 17,740 shares in the company, valued at approximately $1,448,116.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,964 shares of company stock worth $486,847. 12.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in FTV. Pacer Advisors Inc. lifted its holdings in shares of Fortive by 13.9% in the 3rd quarter. Pacer Advisors Inc. now owns 15,985 shares of the technology company’s stock worth $1,346,000 after purchasing an additional 1,948 shares during the last quarter. National Pension Service lifted its holdings in shares of Fortive by 0.8% in the 3rd quarter. National Pension Service now owns 375,312 shares of the technology company’s stock worth $31,601,000 after purchasing an additional 3,161 shares during the last quarter. Virginia National Bank bought a new stake in shares of Fortive in the 3rd quarter worth approximately $202,000. CI Investments Inc. bought a new stake in shares of Fortive in the 3rd quarter worth approximately $3,856,000. Finally, Resources Management Corp CT ADV bought a new stake in shares of Fortive in the 3rd quarter worth approximately $2,528,000. 85.08% of the stock is currently owned by institutional investors and hedge funds.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Analyst Recommendations for Fortive (NYSE:FTV)

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