Fortive (NYSE:FTV) Price Target Raised to $58.00

Fortive (NYSE:FTV) had its price objective upped by Morgan Stanley from $53.00 to $58.00 in a research report released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

Several other analysts also recently commented on FTV. JPMorgan Chase & Co. raised their price objective on Fortive from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 11th. Zacks Research upgraded Fortive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a research report on Monday, December 29th. Royal Bank Of Canada lifted their price objective on Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. Finally, Robert W. Baird set a $65.00 price objective on Fortive in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.23.

Fortive Stock Down 0.7%

Shares of NYSE:FTV opened at $55.15 on Wednesday. Fortive has a 52 week low of $46.34 and a 52 week high of $76.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.71. The company has a market capitalization of $16.98 billion, a PE ratio of 31.88, a PEG ratio of 3.00 and a beta of 1.10. The company has a 50 day moving average price of $56.40 and a two-hundred day moving average price of $53.11.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. Fortive had a net margin of 12.48% and a return on equity of 11.98%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $1.17 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Analysts forecast that Fortive will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, March 13th. This represents a $0.24 annualized dividend and a yield of 0.4%. Fortive’s dividend payout ratio is presently 13.87%.

Insiders Place Their Bets

In related news, Director Kate Mitchell sold 7,131 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total value of $416,022.54. Following the completion of the transaction, the director owned 31,775 shares of the company’s stock, valued at approximately $1,853,753.50. This trade represents a 18.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Fortive

Large investors have recently modified their holdings of the business. DV Equities LLC acquired a new stake in shares of Fortive in the fourth quarter valued at about $25,000. Quent Capital LLC bought a new stake in Fortive during the third quarter worth about $28,000. Root Financial Partners LLC boosted its position in Fortive by 43.6% during the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after purchasing an additional 168 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Fortive by 46.7% in the third quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after purchasing an additional 236 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.