Fortive Corporation (NYSE:FTV) Receives $63.10 Average Price Target from Brokerages

Fortive Corporation (NYSE:FTV) has received a consensus rating of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $63.10.

Several analysts have recently weighed in on the company. Argus reiterated a “buy” rating and set a $68.00 target price on shares of Fortive in a research report on Wednesday, August 19th. Weiss Ratings lowered shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Truist Financial reiterated a “hold” rating and issued a $68.00 price target (up from $67.00) on shares of Fortive in a research note on Thursday, July 30th. Finally, Morgan Stanley increased their price objective on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd.

Fortive Price Performance

FTV stock opened at $55.12 on Friday. The stock has a market cap of $16.65 billion, a PE ratio of 32.61, a P/E/G ratio of 2.29 and a beta of 1.05. Fortive has a 12 month low of $47.31 and a 12 month high of $64.56. The company has a 50-day moving average price of $59.54 and a 200 day moving average price of $59.28. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Equities research analysts anticipate that Fortive will post 3.02 earnings per share for the current year.

Fortive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.07 dividend. This is an increase from Fortive’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. Fortive’s dividend payout ratio is 16.57%.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $61.59, for a total transaction of $533,492.58. Following the sale, the senior vice president directly owned 79,118 shares of the company’s stock, valued at $4,872,877.62. The trade was a 9.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fortive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC grew its stake in Fortive by 156.5% during the 2nd quarter. Anchor Investment Management LLC now owns 690 shares of the technology company’s stock valued at $42,000 after purchasing an additional 421 shares during the last quarter. Core Capital Management & Research inc. purchased a new position in shares of Fortive in the second quarter worth about $296,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Fortive by 2.5% during the second quarter. Sequoia Financial Advisors LLC now owns 25,163 shares of the technology company’s stock worth $1,537,000 after purchasing an additional 621 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Fortive during the second quarter worth about $857,000. Finally, Squarepoint Ops LLC boosted its position in Fortive by 684.7% in the second quarter. Squarepoint Ops LLC now owns 65,371 shares of the technology company’s stock valued at $3,994,000 after buying an additional 57,040 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Company Profile

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides essential products, software and services for customers in healthcare, manufacturing, utilities, commercial facilities and other professional markets. Its businesses focus on improving workplace productivity, safety, compliance, asset performance and operational efficiency.

Fortive’s portfolio has included brands such as Fluke, Tektronix, Industrial Scientific, Accruent, Gordian, Provation and ASP.