Fortive’s (FTV) “Hold” Rating Reaffirmed at Royal Bank of Canada
Fortive (NYSE:FTV)‘s stock had its “hold” rating reaffirmed by Royal Bank of Canada in a research note issued to investors on Thursday. They currently have a $79.00 price objective on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 6.40% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a report on Wednesday. Argus upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. ValuEngine downgraded Fortive from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. BMO Capital Markets started coverage on Fortive in a report on Wednesday, November 15th. They set an “outperform” rating and a $82.00 price objective for the company. Finally, SunTrust Banks restated a “buy” rating and set a $81.00 price objective on shares of Fortive in a report on Friday, October 27th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $71.36.
Shares of Fortive (NYSE:FTV) traded up $1.83 during mid-day trading on Thursday, reaching $74.25. The company’s stock had a trading volume of 1,530,000 shares, compared to its average volume of 1,070,000. The company has a market capitalization of $25,810.00 and a P/E ratio of 28.02. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.95. Fortive has a 1-year low of $53.26 and a 1-year high of $75.69.
In related news, SVP Stacey A. Walker sold 4,775 shares of Fortive stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James A. Lico sold 50,000 shares of Fortive stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total value of $3,657,000.00. Following the transaction, the insider now directly owns 166,014 shares in the company, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC purchased a new position in shares of Fortive during the third quarter valued at approximately $135,000. Willingdon Wealth Management purchased a new position in shares of Fortive during the third quarter valued at approximately $143,000. Westwood Holdings Group Inc. purchased a new position in shares of Fortive during the second quarter valued at approximately $139,000. Sun Life Financial INC boosted its position in shares of Fortive by 21,940.0% during the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock valued at $140,000 after buying an additional 2,194 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Fortive during the second quarter valued at approximately $147,000. 78.74% of the stock is currently owned by institutional investors.
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.
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