Fortive Corporation (FTV) Earns “Equal Weight” Rating from Morgan Stanley
Fortive Corporation (NYSE:FTV)‘s stock had its “equal weight” rating reiterated by equities researchers at Morgan Stanley in a report released on Tuesday.
A number of other research firms have also recently issued reports on FTV. Barclays PLC set a $66.00 price objective on shares of Fortive Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Zacks Investment Research cut shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a research report on Monday, May 22nd. Cowen and Company increased their price objective on shares of Fortive Corporation from $46.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 19th. Finally, SunTrust Banks, Inc. raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Wednesday, March 29th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $59.92.
Shares of Fortive Corporation (NYSE FTV) opened at 63.97 on Tuesday. The stock has a 50 day moving average price of $63.14 and a 200-day moving average price of $59.09. The company has a market capitalization of $22.17 billion and a price-to-earnings ratio of 25.10. Fortive Corporation has a one year low of $46.81 and a one year high of $65.21.
Fortive Corporation (NYSE:FTV) last released its quarterly earnings data on Thursday, April 27th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Fortive Corporation had a net margin of 14.16% and a return on equity of 34.24%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. On average, equities research analysts expect that Fortive Corporation will post $2.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, May 26th were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $0.28 annualized dividend and a yield of 0.44%. Fortive Corporation’s payout ratio is 10.98%.
In related news, VP Emily A. Weaver sold 3,749 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James A. Lico sold 131,994 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $62.34, for a total transaction of $8,228,505.96. Following the completion of the transaction, the insider now directly owns 191,101 shares in the company, valued at approximately $11,913,236.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,385 shares of company stock worth $9,187,369.
Institutional investors have recently made changes to their positions in the stock. Franklin Street Advisors Inc. NC boosted its position in shares of Fortive Corporation by 3.5% in the first quarter. Franklin Street Advisors Inc. NC now owns 70,843 shares of the technology company’s stock valued at $4,266,000 after buying an additional 2,393 shares during the last quarter. Liberty Capital Management Inc. boosted its position in Fortive Corporation by 2.0% in the first quarter. Liberty Capital Management Inc. now owns 20,842 shares of the technology company’s stock valued at $1,255,000 after buying an additional 418 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in Fortive Corporation by 201.4% in the first quarter. Integrated Investment Consultants LLC now owns 2,670 shares of the technology company’s stock valued at $161,000 after buying an additional 1,784 shares in the last quarter. Pensionfund DSM Netherlands purchased a new position in Fortive Corporation during the first quarter valued at approximately $3,372,000. Finally, Pensionfund Sabic purchased a new position in Fortive Corporation during the first quarter valued at approximately $1,692,000. 79.17% of the stock is currently owned by institutional investors and hedge funds.
About Fortive Corporation
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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