Equities researchers at UBS Group initiated coverage on shares of Fortive (NYSE:FTV) in a research note issued to investors on Monday, The Fly reports. The brokerage set a “buy” rating on the technology company’s stock.
Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Wednesday, January 17th. Royal Bank of Canada reaffirmed a “hold” rating and set a $79.00 target price on shares of Fortive in a research note on Thursday, January 4th. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. ValuEngine cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, BMO Capital Markets started coverage on shares of Fortive in a research note on Wednesday, November 15th. They issued an “outperform” rating and a $82.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $72.70.
Fortive (FTV) traded down $0.36 on Monday, reaching $74.20. 1,364,831 shares of the company traded hands, compared to its average volume of 1,337,457. The stock has a market capitalization of $25,790.00 and a PE ratio of 28.00. Fortive has a 52 week low of $53.59 and a 52 week high of $75.69. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06.
In other Fortive news, insider James A. Lico sold 50,000 shares of Fortive stock in a transaction 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 completion of the transaction, the insider now directly owns 166,014 shares of the company’s stock, valued at approximately $12,142,263.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 4,775 shares of Fortive stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. Company insiders own 12.10% of the company’s stock.
Large investors have recently modified their holdings of the business. Laurion Capital Management LP lifted its holdings in shares of Fortive by 131.4% in the 2nd quarter. Laurion Capital Management LP now owns 8,100 shares of the technology company’s stock worth $513,000 after acquiring an additional 4,600 shares during the last quarter. Profund Advisors LLC lifted its holdings in shares of Fortive by 1.4% in the 2nd quarter. Profund Advisors LLC now owns 7,801 shares of the technology company’s stock worth $494,000 after acquiring an additional 111 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Fortive by 3.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 11,415 shares of the technology company’s stock worth $723,000 after acquiring an additional 370 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Fortive by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock worth $1,305,909,000 after acquiring an additional 620,784 shares during the last quarter. Finally, TIAA FSB bought a new stake in shares of Fortive in the 2nd quarter worth about $718,000. 78.79% of the stock is owned by institutional investors and hedge funds.
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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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