Fortive Corp. (FTV) Receives Consensus Rating of “Hold” from Analysts
Fortive Corp. (NYSE:FTV) has received an average recommendation of “Hold” from the fifteen brokerages that are presently covering the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $52.75.
Several analysts have recently issued reports on the company. Argus assumed coverage on Fortive Corp. in a report on Thursday, September 8th. They set a “hold” rating on the stock. Goldman Sachs Group Inc. assumed coverage on Fortive Corp. in a report on Wednesday, September 28th. They set a “neutral” rating and a $47.00 price objective on the stock. Raymond James Financial Inc. assumed coverage on Fortive Corp. in a report on Friday, September 23rd. They set an “outperform” rating and a $58.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on Fortive Corp. in a report on Tuesday, July 12th. They set a “neutral” rating and a $48.00 price objective on the stock. Finally, Zacks Investment Research cut Fortive Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th.
Shares of Fortive Corp. (NYSE:FTV) traded down 0.81% during trading on Monday, reaching $49.06. The company’s stock had a trading volume of 549,944 shares. The stock has a market cap of $16.95 billion and a price-to-earnings ratio of 19.84. The company has a 50-day moving average price of $51.06 and a 200-day moving average price of $50.77. Fortive Corp. has a one year low of $46.29 and a one year high of $54.34.
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Fortive Corp. (NYSE:FTV) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.07. The firm had revenue of $1.56 million for the quarter, compared to analysts’ expectations of $1.56 million. The firm’s revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. On average, equities research analysts forecast that Fortive Corp. will post $2.43 earnings per share for the current fiscal year.
The firm also recently disclosed a special dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, August 26th were given a $0.07 dividend. The ex-dividend date was Wednesday, August 24th.
A hedge fund recently bought a new stake in Fortive Corp. stock. Profit Investment Management LLC acquired a new stake in shares of Fortive Corp. (NYSE:FTV) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,765 shares of the company’s stock, valued at approximately $243,000. 1.69% of the stock is currently owned by institutional investors and hedge funds.
About Fortive Corp.
Fortive Corporation (Fortive) is an industrial growth company, which operates businesses that design, develop, manufacture, service and market professional and engineered products, software and services for a range of end markets. The Company has two segments: Professional Instrumentation and Industrial Technologies.
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