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.
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.
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