Fortive (FTV) PT Raised to $79.00 at Citigroup

Fortive (NYSE:FTV) had its price objective boosted by stock analysts at Citigroup from $76.00 to $79.00 in a research note issued to investors on Friday. The firm presently has a “neutral” rating on the technology company’s stock. Citigroup’s price target indicates a potential upside of 9.04% from the company’s previous close.

FTV has been the subject of several other reports. BMO Capital Markets started coverage on Fortive in a report on Wednesday, November 15th. They set an “outperform” rating and a $82.00 target price for the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $79.00 target price on shares of Fortive in a report on Thursday, January 4th. Zacks Investment Research downgraded Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. UBS Group assumed coverage on Fortive in a report on Monday, January 22nd. They set a “buy” rating for the company. Finally, SunTrust Banks reissued a “buy” rating and issued a $81.00 price objective on shares of Fortive in a research note on Friday, October 27th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $73.70.

Shares of Fortive (FTV) traded up $3.31 during midday trading on Friday, hitting $72.45. The stock had a trading volume of 4,139,482 shares, compared to its average volume of 1,490,000. Fortive has a twelve month low of $56.68 and a twelve month high of $76.68. The stock has a market capitalization of $26,390.00 and a P/E ratio of 24.48. 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 (NYSE:FTV) last announced its 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 return on equity of 32.05% and a net margin of 15.69%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the business posted $0.68 earnings per share. Fortive’s revenue was up 11.0% compared to the same quarter last year. research analysts anticipate that Fortive will post 3.21 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Calton & Associates Inc. purchased a new stake in Fortive in the 4th quarter worth about $107,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Fortive during the 3rd quarter worth about $135,000. Westwood Holdings Group Inc. purchased a new stake in shares of Fortive during the 2nd quarter worth about $139,000. Willingdon Wealth Management purchased a new stake in shares of Fortive during the 3rd quarter worth about $143,000. Finally, BB&T Investment Services Inc. purchased a new stake in shares of Fortive during the 2nd quarter worth about $157,000. 78.96% of the stock is owned by hedge funds and other institutional investors.

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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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