Fortive (FTV) Downgraded by ValuEngine

ValuEngine cut shares of Fortive (NYSE:FTV) from a buy rating to a hold rating in a research note issued to investors on Monday morning, ValuEngine reports.

A number of other equities analysts have also recently issued reports on FTV. Zacks Investment Research upgraded shares of Fortive from a hold rating to a buy rating and set a $99.00 price target on the stock in a research note on Monday, April 22nd. Barclays upped their price target on shares of Fortive from $81.00 to $88.00 and gave the stock an overweight rating in a research note on Wednesday, April 3rd. Argus reiterated a buy rating on shares of Fortive in a research note on Tuesday, April 30th. BMO Capital Markets upped their price target on shares of Fortive from $96.00 to $99.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Finally, Morgan Stanley cut shares of Fortive from an overweight rating to an equal weight rating and set a $83.48 price target on the stock. in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Fortive has a consensus rating of Buy and a consensus target price of $87.77.

Shares of FTV stock opened at $81.35 on Monday. Fortive has a 12 month low of $62.89 and a 12 month high of $89.48. The firm has a market cap of $27.26 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 1.74 and a beta of 1.13. The company has a current ratio of 2.20, a quick ratio of 1.97 and a debt-to-equity ratio of 0.69.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, April 25th. The technology company reported $0.69 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.69. Fortive had a net margin of 39.98% and a return on equity of 19.44%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, analysts expect that Fortive will post 3.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Thursday, May 30th. Fortive’s dividend payout ratio (DPR) is 9.15%.

In other Fortive news, VP Jonathan L. Schwarz sold 3,746 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $81.63, for a total value of $305,785.98. Following the completion of the transaction, the vice president now owns 17,740 shares of the company’s stock, valued at approximately $1,448,116.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William W. Pringle sold 435 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $80.66, for a total value of $35,087.10. The disclosure for this sale can be found here. In the last three months, insiders sold 18,600 shares of company stock valued at $1,571,781. 12.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTV. Norges Bank purchased a new stake in shares of Fortive during the 4th quarter valued at about $246,463,000. Oregon Public Employees Retirement Fund increased its position in shares of Fortive by 3,401.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,533,529 shares of the technology company’s stock valued at $37,000 after purchasing an additional 2,461,167 shares during the last quarter. Gates Capital Management Inc. purchased a new stake in shares of Fortive during the 4th quarter valued at about $53,836,000. Artisan Partners Limited Partnership increased its position in shares of Fortive by 16.1% during the 1st quarter. Artisan Partners Limited Partnership now owns 4,757,642 shares of the technology company’s stock valued at $399,119,000 after purchasing an additional 661,196 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Fortive by 11.2% during the 1st quarter. Geode Capital Management LLC now owns 4,071,281 shares of the technology company’s stock valued at $340,931,000 after purchasing an additional 411,019 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

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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