Several analysts have recently updated their ratings and price targets for Fortive Corporation (NYSE: FTV):

  • 10/2/2017 – Fortive Corporation had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $72.00 price target on the stock, up previously from $71.00.
  • 9/26/2017 – Fortive Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $78.00 price target on the stock. According to Zacks, “Fortive Corporation is a leading supplier and manufacturer of industrial products. The high-single digit core growth in the company’s Transportation Technologies platform, ongoing margin expansion owing to the Fortive Business System, acquisitions and strong free cash flow generation are the positives. We note that acquisitions of eMaint Enterprises and Global Traffic Technologies has accelerated Fortive’s push into the rapidly-growing cloud computing market. However, end market cyclicality, integration issues and uncertainties in the international markets pose concerns. Year to date, the stock has underperformed the industry it belongs to.”
  • 9/22/2017 – Fortive Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Fortive Corporation is a leading supplier and manufacturer of industrial products. Its second quarter 2017 earnings were above the Zacks Consensus Estimate. The high-single digit core growth in the company’s Transportation Technologies platform, ongoing margin expansion owing to the Fortive Business System, acquisitions and strong free cash flow generation remain the positives. However, end market cyclicality, integration issues and uncertainties in the international markets pose concerns. Year to date, the stock has underperformed the industry it belongs to.”
  • 9/19/2017 – Fortive Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $78.00 price target on the stock. According to Zacks, “Fortive Corporation Fortive Corporation is a leading supplier and manufacturer of industrial products. Its second quarter 2017 earnings were above the Zacks Consensus Estimate. The high-single digit core growth in the company’s Transportation Technologies platform, ongoing margin expansion owing to the Fortive Business System, acquisitions and strong free cash flow generation remain the positives. However, end market cyclicality, integration issues and uncertainties in the international markets pose concerns. Year to date, the stock has underperformed the industry it belongs to.”
  • 9/15/2017 – Fortive Corporation had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $66.00 price target on the stock.
  • 8/25/2017 – Fortive Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Fortive Corporation Fortive Corporation is a leading supplier and manufacturer of industrial products. Its second quarter 2017 earnings were above the Zacks Consensus Estimate. The high-single digit core growth in the company’s Transportation Technologies platform, ongoing margin expansion owing to the Fortive Business System, acquisitions and strong free cash flow generation remain the positives. However, end market cyclicality, integration issues and uncertainties in the international markets pose concerns. Year to date, the stock has underperformed the industry it belongs to.”

Fortive Corporation (FTV) traded up 0.525% during midday trading on Wednesday, reaching $71.855. 407,371 shares of the company traded hands. Fortive Corporation has a one year low of $46.81 and a one year high of $71.92. The company has a 50 day moving average price of $69.64 and a 200-day moving average price of $69.64. The stock has a market capitalization of $24.94 billion, a P/E ratio of 28.301 and a beta of 0.39.

Fortive Corporation (NYSE:FTV) last issued its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company posted $0.64 EPS. Fortive Corporation’s revenue was up 4.7% on a year-over-year basis. Analysts forecast that Fortive Corporation will post $2.79 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, August 25th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. Fortive Corporation’s dividend payout ratio is currently 11.02%.

In other news, CFO Charles E. Mclaughlin sold 6,565 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $66.09, for a total transaction of $433,880.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.10% of the company’s stock.

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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