Royal Bank of Canada Issues Positive Forecast for Fortive (NYSE:FTV) Stock Price

Fortive (NYSE:FTV) had its price target lifted by Royal Bank of Canada from $77.00 to $85.00 in a report published on Monday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the technology company’s stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company increased their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday. Barclays reduced their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Argus reiterated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. UBS Group began coverage on Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price on the stock. Finally, Truist Financial increased their target price on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.64.

Fortive Price Performance

Shares of FTV opened at $80.18 on Monday. The company has a market cap of $27.82 billion, a PE ratio of 31.94, a P/E/G ratio of 2.14 and a beta of 1.15. The business has a fifty day moving average of $77.72 and a 200 day moving average of $75.53. Fortive has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same period in the prior year, the firm earned $0.98 earnings per share. On average, sell-side analysts expect that Fortive will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is currently 12.75%.

Institutional Investors Weigh In On Fortive

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its position in Fortive by 15.0% during the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after purchasing an additional 51,690 shares in the last quarter. First Hawaiian Bank boosted its position in Fortive by 197.0% during the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 10,125 shares in the last quarter. Principal Financial Group Inc. boosted its position in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after purchasing an additional 10,795 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock valued at $2,832,000 after purchasing an additional 7,829 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Fortive during the third quarter valued at about $1,346,000. 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.