Fortive Corp (NYSE:FTV) Given Consensus Rating of “Hold” by Brokerages

Fortive Corp (NYSE:FTV) has received a consensus recommendation of “Hold” from the seventeen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $84.55.

Several equities analysts have recently commented on FTV shares. Zacks Investment Research downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Berenberg Bank initiated coverage on Fortive in a research report on Wednesday, May 15th. They set a “buy” rating and a $96.00 price target on the stock. Raymond James set a $84.00 price target on Fortive and gave the stock an “outperform” rating in a research report on Friday, July 26th. ValuEngine downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Finally, BMO Capital Markets increased their price target on Fortive from $96.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th.

In other Fortive news, VP Emily A. Weaver sold 650 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $80.92, for a total transaction of $52,598.00. Following the completion of the sale, the vice president now directly owns 9,146 shares in the company, valued at $740,094.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Emily A. Weaver sold 519 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $80.98, for a total value of $42,028.62. Following the sale, the vice president now owns 8,627 shares of the company’s stock, valued at $698,614.46. The disclosure for this sale can be found here. Insiders have sold 21,169 shares of company stock worth $1,729,427 in the last three months. 12.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTV. Artisan Partners Limited Partnership lifted its stake in Fortive by 16.1% during the first quarter. Artisan Partners Limited Partnership now owns 4,757,642 shares of the technology company’s stock worth $399,119,000 after purchasing an additional 661,196 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Fortive by 79.0% in the 4th quarter. Deutsche Bank AG now owns 827,194 shares of the technology company’s stock valued at $55,963,000 after acquiring an additional 365,059 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Fortive by 18.4% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,651,274 shares of the technology company’s stock valued at $134,613,000 after acquiring an additional 257,016 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Fortive by 11.2% in the 1st quarter. Champlain Investment Partners LLC now owns 2,034,815 shares of the technology company’s stock valued at $170,701,000 after acquiring an additional 205,445 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in shares of Fortive by 530.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 203,688 shares of the technology company’s stock valued at $17,088,000 after acquiring an additional 171,401 shares during the last quarter. Hedge funds and other institutional investors own 83.49% of the company’s stock.

Shares of Fortive stock traded up $1.01 on Tuesday, hitting $71.42. The stock had a trading volume of 1,944,642 shares, compared to its average volume of 1,544,916. Fortive has a twelve month low of $62.89 and a twelve month high of $89.48. The company has a 50 day moving average price of $79.23. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $23.63 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.17 and a beta of 1.19.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, July 25th. The technology company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities research analysts expect that Fortive will post 3.53 EPS for the current year.

About Fortive

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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