Fortive (FTV) Price Target Cut to $87.00

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.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company posted $0.68 EPS. Fortive’s revenue was up 11.0% on a year-over-year basis. research analysts anticipate that Fortive will post 2.85 earnings per share for the current year.

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.

Analyst Recommendations for Fortive (NYSE:FTV)

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