Shares of Fortive Corp (NYSE:FTV) have received an average rating of “Hold” from the seventeen analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $84.55.
Several research firms have weighed in on FTV. Cowen reaffirmed a “buy” rating on shares of Odonate Therapeutics in a report on Monday, June 3rd. Zacks Investment Research cut GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. BMO Capital Markets set a $32.00 price objective on Axalta Coating Systems and gave the company a “hold” rating in a report on Friday, April 26th. Berenberg Bank reissued a “buy” rating and set a GBX 150 ($1.96) price objective on shares of Tharisa in a report on Wednesday, May 15th. Finally, Morgan Stanley reissued an “overweight” rating and set a GBX 2,280 ($29.79) price objective on shares of Anglo American in a report on Wednesday, May 8th.
In related news, VP Emily A. Weaver sold 519 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $80.98, for a total transaction of $42,028.62. Following the transaction, the vice president now directly owns 8,627 shares in the company, valued at approximately $698,614.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Emily A. Weaver sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $85.53, for a total value of $51,318.00. Following the transaction, the vice president now owns 9,796 shares in the company, valued at $837,851.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,155 shares of company stock worth $2,761,762. 12.70% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Zeke Capital Advisors LLC grew its position in shares of Fortive by 2.9% in the 1st quarter. Zeke Capital Advisors LLC now owns 4,378 shares of the technology company’s stock worth $367,000 after buying an additional 125 shares during the last quarter. Emerald Advisers LLC grew its position in shares of Fortive by 0.7% in the 1st quarter. Emerald Advisers LLC now owns 21,120 shares of the technology company’s stock worth $1,772,000 after buying an additional 144 shares during the last quarter. Mcmillion Capital Management Inc. boosted its position in shares of Fortive by 3.1% during the first quarter. Mcmillion Capital Management Inc. now owns 4,865 shares of the technology company’s stock valued at $408,000 after purchasing an additional 148 shares in the last quarter. Norway Savings Bank boosted its position in shares of Fortive by 2.3% during the first quarter. Norway Savings Bank now owns 7,187 shares of the technology company’s stock valued at $603,000 after purchasing an additional 165 shares in the last quarter. Finally, Trust Co. of Vermont boosted its position in shares of Fortive by 3.2% during the first quarter. Trust Co. of Vermont now owns 5,275 shares of the technology company’s stock valued at $443,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.
Shares of NYSE:FTV traded up $1.53 on Friday, hitting $81.23. The company’s stock had a trading volume of 33,273 shares, compared to its average volume of 1,500,598. The firm’s 50-day moving average price is $79.17. Fortive has a 1 year low of $62.89 and a 1 year high of $89.48. The stock has a market cap of $27.15 billion, a P/E ratio of 26.47, a PEG ratio of 1.71 and a beta of 1.20. The company has a quick ratio of 1.97, a current ratio of 2.20 and a debt-to-equity ratio of 0.69.
Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.69 earnings per share for the quarter, meeting the consensus estimate of $0.69. Fortive had a return on equity of 19.44% and a net margin of 39.98%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm posted $0.78 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Fortive will post 3.58 earnings per share for the current year.
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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