Fortive (NYSE:FTV) PT Lowered to $84.00 at Wells Fargo & Company

Fortive (NYSE:FTV) had its target price decreased by Wells Fargo & Company from $92.00 to $84.00 in a report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

FTV has been the topic of a number of other reports. Mizuho boosted their price target on shares of Fortive from $70.00 to $80.00 and gave the company a neutral rating in a research report on Thursday, February 1st. Vertical Research cut shares of Fortive from a buy rating to a hold rating in a report on Tuesday, January 2nd. StockNews.com upgraded shares of Fortive from a hold rating to a buy rating in a research note on Friday, January 26th. Royal Bank of Canada increased their price objective on shares of Fortive from $75.00 to $80.00 and gave the company a sector perform rating in a research report on Thursday, February 1st. Finally, Barclays raised their target price on shares of Fortive from $89.00 to $97.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $86.46.

Fortive Stock Down 0.5 %

Shares of FTV stock traded down $0.41 on Thursday, hitting $75.80. The company’s stock had a trading volume of 553,588 shares, compared to its average volume of 1,673,142. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.75. Fortive has a fifty-two week low of $62.77 and a fifty-two week high of $87.10. The firm’s fifty day moving average price is $84.00 and its 200-day moving average price is $76.13. The stock has a market capitalization of $26.68 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 2.32 and a beta of 1.13.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. Research analysts anticipate that Fortive will post 3.79 EPS for the current year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio is currently 12.65%.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the transaction, the senior vice president now owns 36,558 shares in the company, valued at $3,162,267. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now owns 36,558 shares in the company, valued at $3,162,267. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Tamara S. Newcombe sold 5,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $85.00, for a total transaction of $425,000.00. Following the transaction, the chief executive officer now owns 55,017 shares of the company’s stock, valued at approximately $4,676,445. The disclosure for this sale can be found here. Insiders have sold 63,937 shares of company stock worth $5,475,122 in the last quarter. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Fortive

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in shares of Fortive in the third quarter worth about $25,000. Indiana Trust & Investment Management CO purchased a new stake in shares of Fortive in the first quarter worth about $26,000. Cornerstone Planning Group LLC purchased a new stake in shares of Fortive in the third quarter worth about $28,000. Cetera Trust Company N.A purchased a new stake in shares of Fortive in the fourth quarter worth about $28,000. Finally, First Command Advisory Services Inc. purchased a new stake in Fortive in the third quarter valued at approximately $30,000. Institutional investors own 94.94% of the company’s stock.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.