Fortive (FTV) Stock Rating Upgraded by Argus

Fortive (NYSE:FTV) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a report issued on Friday, MarketBeat reports.

Several other equities analysts have also weighed in on FTV. ValuEngine lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Tuesday, September 26th. BMO Capital Markets assumed coverage on shares of Fortive in a research report on Wednesday, November 15th. They issued an “outperform” rating and a $82.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Fortive from $62.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $72.00 price objective (up from $71.00) on shares of Fortive in a research report on Monday, October 2nd. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Fortive currently has an average rating of “Buy” and an average price target of $70.27.

Shares of Fortive (NYSE FTV) traded down $0.07 during mid-day trading on Friday, reaching $74.58. 1,322,311 shares of the company’s stock were exchanged, compared to its average volume of 1,352,921. The firm has a market capitalization of $25,840.00 and a PE ratio of 26.55. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06. Fortive has a 12-month low of $52.99 and a 12-month high of $75.69.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 earnings per share. research analysts expect that Fortive will post 2.85 EPS for the current fiscal year.

In related news, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the transaction, the insider now directly owns 166,014 shares in the company, valued at $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. APG Asset Management N.V. grew its stake in Fortive by 49.7% during the third quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock worth $154,483,000 after buying an additional 724,400 shares in the last quarter. Swiss National Bank grew its stake in Fortive by 3.2% during the second quarter. Swiss National Bank now owns 1,137,872 shares of the technology company’s stock worth $72,084,000 after buying an additional 35,300 shares in the last quarter. Hikari Power Ltd grew its stake in Fortive by 34.7% during the second quarter. Hikari Power Ltd now owns 141,700 shares of the technology company’s stock worth $8,977,000 after buying an additional 36,500 shares in the last quarter. Synovus Financial Corp grew its stake in Fortive by 23.9% during the second quarter. Synovus Financial Corp now owns 29,587 shares of the technology company’s stock worth $1,872,000 after buying an additional 5,715 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in Fortive by 24.5% during the second quarter. Toronto Dominion Bank now owns 104,177 shares of the technology company’s stock worth $6,598,000 after buying an additional 20,519 shares in the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.

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Fortive Company Profile

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.

Analyst Recommendations for Fortive (NYSE:FTV)

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