Fortive Co. (NYSE: FTV – Get Rating) has earned an average recommendation of “Hold” from the seventeen research firms that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $ 79.27.
Several research firms have weighed in on FTV. Argus upgraded Fortive from a “hold” rating to a “buy” rating and set a $ 68.00 price target for the company in a research note on Thursday, March 17th. Cowen lowered their target price on Fortive from $ 80.00 to $ 70.00 and set a “market perform” rating for the company in a research report on Thursday, June 2nd. StockNews.com began coverage on Fortive in a research report on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley lowered their target price on Fortive from $ 67.00 to $ 64.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 31st. Finally, Cowen lowered their target price on Fortive from $ 80.00 to $ 70.00 in a research report on Thursday, June 2nd.
FTV stock opened at $ 53.75 on Tuesday. Fortive has a 1-year low of $ 53.20 and a 1-year high of $ 79.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.96 and a quick ratio of 0.74. The company has a market capitalization of $ 19.27 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.86 and a beta of 1.10. The business has a 50 day simple moving average of $ 59.31 and a two-hundred day simple moving average of $ 64.74.
Fortive (NYSE: FTV – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The technology company reported $ 0.70 earnings per share for the quarter, topping the consensus estimate of $ 0.68 by $ 0.02. Fortive had a return on equity of 10.87% and a net margin of 12.32%. The business had revenue of $ 1.38 billion during the quarter, compared to the consensus estimate of $ 1.35 billion. During the same period in the prior year, the company posted $ 0.63 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Fortive will post 3.06 EPS for the current fiscal year.
Fortive announced that its board has authorized a stock buyback plan on Thursday, February 17th that authorizes the company to buyback 20,000,000 outstanding shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, May 27th will be issued a dividend of $ 0.07 per share. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $ 0.28 annualized dividend and a yield of 0.52%. Fortive’s payout ratio is presently 15.56%.
In other Fortive news, Director Alan G. Spoon bought 17,400 shares of Fortive stock in a transaction on Monday, May 2nd. The shares were acquired at an average price of $ 58.25 per share, for a total transaction of $ 1,013,550.00. Following the completion of the purchase, the director now directly owns 98,861 shares in the company, valued at approximately $ 5,758,653.25. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.40% of the company stock.
Institutional investors have recently made changes to their positions in the company. Robeco Schweiz AG increased its stake in shares of Fortive by 124.2% during the fourth quarter. Robeco Schweiz AG now owns 77,604 shares of the technology company stock valued at $ 5,920,000 after buying an additional 42,984 shares during the period. Swiss National Bank increased its stake in shares of Fortive by 1.6% during the fourth quarter. Swiss National Bank now owns 1,294,084 shares of the technology company stock valued at $ 98,726,000 after buying an additional 20,500 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Fortive by 7.5% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 997,640 shares of the technology company stock valued at $ 76,110,000 after buying an additional 69,658 shares during the period. Clearstead Advisors LLC increased its stake in shares of Fortive by 44.7% during the fourth quarter. Clearstead Advisors LLC now owns 4,338 shares of the technology company stock valued at $ 331,000 after buying an additional 1,341 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of Fortive by 15.2% during the fourth quarter. Schroder Investment Management Group now owns 1,744,529 shares of the technology company stock valued at $ 133,090,000 after buying an additional 229,590 shares during the period. Hedge funds and other institutional investors own 95.21% of the company stock.
About Fortive: (Get Rating)
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.
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