Research analysts at Rosenblatt Securities began coverage on shares of Fortive (NYSE:FTV) in a report issued on Thursday, The Fly reports. The firm set a “neutral” rating and a $77.00 price target on the technology company’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 5.65% from the company’s current price.
FTV has been the subject of a number of other research reports. Zacks Investment Research raised Fortive from a “sell” rating to a “hold” rating and set a $72.00 price target for the company in a research report on Tuesday, October 1st. Argus downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Credit Suisse Group upped their price target on Fortive from $73.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Berenberg Bank set a $86.00 price target on Fortive and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Morgan Stanley reduced their price target on Fortive from $85.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Fortive has an average rating of “Hold” and a consensus target price of $78.25.
NYSE FTV traded up $0.59 during trading hours on Thursday, reaching $72.88. 852,302 shares of the company’s stock were exchanged, compared to its average volume of 1,727,824. The company’s 50-day moving average is $68.97 and its two-hundred day moving average is $75.10. Fortive has a one year low of $62.89 and a one year high of $89.48. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.96 and a current ratio of 1.19. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 2.68 and a beta of 1.21.
Fortive (NYSE:FTV) last posted its earnings results on Thursday, October 24th. The technology company reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. Fortive had a return on equity of 17.41% and a net margin of 37.57%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the business earned $0.86 EPS. Fortive’s revenue for the quarter was up 16.2% compared to the same quarter last year. Research analysts predict that Fortive will post 3.45 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in Fortive by 47.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,759,436 shares of the technology company’s stock valued at $531,987,000 after purchasing an additional 2,490,746 shares during the last quarter. Northern Trust Corp lifted its holdings in Fortive by 0.7% during the 2nd quarter. Northern Trust Corp now owns 4,346,853 shares of the technology company’s stock valued at $354,356,000 after purchasing an additional 28,760 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Fortive by 23,241.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,906,599 shares of the technology company’s stock valued at $318,466,000 after purchasing an additional 3,889,862 shares during the last quarter. Winslow Capital Management LLC lifted its holdings in Fortive by 7.7% during the 2nd quarter. Winslow Capital Management LLC now owns 2,398,305 shares of the technology company’s stock valued at $195,509,000 after purchasing an additional 171,237 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Fortive by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 2,232,096 shares of the technology company’s stock valued at $181,961,000 after purchasing an additional 287,449 shares during the last quarter. 82.75% of the stock is owned by 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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