Shares of Fortive Corporation (NYSE:FTV) have received a consensus recommendation of “Buy” from the sixteen brokerages that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $70.27.
A number of analysts recently weighed in on FTV shares. SunTrust Banks reiterated a “buy” rating and set a $81.00 price target on shares of Fortive in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Tuesday, September 19th. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Morgan Stanley reiterated an “equal weight” rating and set a $72.00 price target (up previously from $71.00) on shares of Fortive in a research note on Monday, October 2nd. Finally, ValuEngine cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th.
In other news, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the sale, the insider now owns 166,014 shares of the company’s stock, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in FTV. Capital World Investors lifted its stake in shares of 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 purchasing an additional 2,701,496 shares during the period. BlackRock Inc. lifted its stake in shares of 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 purchasing an additional 1,934,309 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of 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 purchasing an additional 1,410,000 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of 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 purchasing an additional 971,997 shares during the period. Finally, APG Asset Management N.V. lifted its stake in shares of 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 purchasing an additional 724,400 shares during the period. Institutional investors own 78.96% of the company’s stock.
Shares of Fortive (NYSE FTV) traded down $0.49 during trading hours on Thursday, reaching $72.52. 767,127 shares of the company were exchanged, compared to its average volume of 1,342,530. The firm has a market cap of $25,200.00 and a PE ratio of 26.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.95. Fortive has a 12-month low of $52.99 and a 12-month high of $75.69.
Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Fortive had a net margin of 14.39% and a return on equity of 31.67%. Fortive’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. analysts anticipate that Fortive will post 2.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, November 22nd. Fortive’s dividend payout ratio (DPR) is presently 10.57%.
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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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