Fortive (NYSE:FTV) had its price target cut by BMO Capital Markets from $88.00 to $87.00 in a report issued on Friday. The firm presently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 20.08% from the stock’s previous close.
FTV has been the topic of several other reports. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Stifel Nicolaus boosted their price target on shares of Fortive from $62.00 to $72.00 and gave the company a “hold” rating in a report on Friday, October 27th. ValuEngine cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, UBS Group began coverage on shares of Fortive in a report on Monday, January 22nd. They set a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $73.70.
Fortive (NYSE FTV) traded up $3.31 during trading on Friday, hitting $72.45. 4,139,709 shares of the stock traded hands, compared to its average volume of 1,660,839. 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 fifty-two week low of $56.68 and a fifty-two week high of $76.68. The stock has a market cap of $24,916.51, a PE ratio of 27.34, a P/E/G ratio of 2.20 and a beta of 0.51.
Hedge funds have recently added to or reduced their stakes in the stock. Calton & Associates Inc. acquired a new stake in shares of Fortive in the 4th quarter valued at $107,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Fortive in the 3rd quarter valued at $135,000. Willingdon Wealth Management acquired a new stake in shares of Fortive in the 3rd quarter valued at $143,000. Westwood Holdings Group Inc. acquired a new stake in shares of Fortive in the 2nd quarter valued at $139,000. Finally, BB&T Investment Services Inc. acquired a new stake in shares of Fortive in the 2nd quarter valued at $157,000. 78.96% of the stock is 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.
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