UBS Group Begins Coverage on Fortive (FTV)

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.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company 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%. Fortive’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted $0.65 earnings per share. analysts anticipate that Fortive will post 2.85 earnings per share for the current year.

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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About Fortive

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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