Fortive (NYSE:FTV) Price Target Raised to $98.00 at Barclays

Fortive (NYSE:FTV) had its price target upped by Barclays from $96.00 to $98.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other equities analysts also recently commented on FTV. StockNews.com raised shares of Fortive from a hold rating to a buy rating in a report on Friday, September 13th. Truist Financial decreased their price target on shares of Fortive from $89.00 to $82.00 and set a buy rating for the company in a report on Thursday, July 25th. Royal Bank of Canada reiterated a sector perform rating and set a $77.00 price objective on shares of Fortive in a research note on Friday, September 6th. Raymond James upgraded Fortive from a market perform rating to an outperform rating and set a $85.00 target price for the company in a research note on Thursday, September 5th. Finally, Wells Fargo & Company dropped their price target on Fortive from $84.00 to $75.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $86.17.

Fortive Trading Up 0.2 %

NYSE FTV opened at $76.91 on Wednesday. The company has a market capitalization of $27.07 billion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. Fortive has a 12 month low of $63.05 and a 12 month high of $87.10. The company’s fifty day moving average price is $72.92 and its two-hundred day moving average price is $75.63.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 earnings per share. As a group, research analysts predict that Fortive will post 3.82 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, September 13th. Fortive’s dividend payout ratio (DPR) is 12.65%.

Insider Buying and Selling

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Institutional Trading of Fortive

Institutional investors have recently modified their holdings of the company. Indiana Trust & Investment Management CO bought a new stake in Fortive in the first quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in Fortive in the 2nd quarter worth about $30,000. International Assets Investment Management LLC acquired a new stake in Fortive during the 2nd quarter worth about $30,000. Goodman Advisory Group LLC acquired a new position in Fortive in the 2nd quarter worth approximately $31,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Fortive in the first quarter worth $32,000. Institutional investors and hedge funds 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.