Fortive (FTV) Price Target Raised to $84.00 at JPMorgan Chase & Co.

Fortive (NYSE:FTV) had its target price upped by equities researchers at JPMorgan Chase & Co. from $82.00 to $84.00 in a report issued on Monday. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 13.06% from the stock’s current price.

Several other brokerages also recently commented on FTV. BMO Capital Markets dropped their target price on Fortive from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday. SunTrust Banks reiterated a “buy” rating and set a $81.00 target price on shares of Fortive in a report on Friday, October 27th. Citigroup raised their target price on Fortive from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Friday. Royal Bank of Canada reiterated a “hold” rating and set a $79.00 target price on shares of Fortive in a report on Thursday, January 4th. Finally, Zacks Investment Research downgraded Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $75.50.

Shares of Fortive (NYSE:FTV) traded up $1.81 during trading hours on Monday, hitting $74.30. The company had a trading volume of 3,470,000 shares, compared to its average volume of 1,600,000. The stock has a market cap of $25,820.00 and a P/E ratio of 25.10. The company has a current ratio of 1.83, a quick ratio of 1.47 and a debt-to-equity ratio of 1.07. Fortive has a 1-year low of $56.68 and a 1-year high of $76.68.

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. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.77 billion. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. equities research analysts expect that Fortive will post 3.4 EPS for the current year.

A number of hedge funds have recently bought and sold shares of FTV. APG Asset Management N.V. increased its holdings in Fortive by 49.7% during the 3rd quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock worth $154,483,000 after purchasing an additional 724,400 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its holdings in shares of Fortive by 1,737.6% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 455,129 shares of the technology company’s stock valued at $32,218,000 after acquiring an additional 430,362 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Fortive by 106.3% in the 3rd quarter. Janus Henderson Group PLC now owns 821,560 shares of the technology company’s stock valued at $58,157,000 after acquiring an additional 423,247 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Fortive by 39.4% in the 4th quarter. Schroder Investment Management Group now owns 1,364,280 shares of the technology company’s stock valued at $98,706,000 after acquiring an additional 385,630 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Fortive by 1.7% in the 4th quarter. BlackRock Inc. now owns 20,013,760 shares of the technology company’s stock valued at $1,447,996,000 after acquiring an additional 336,327 shares during the last quarter. Institutional investors own 78.59% of the company’s stock.

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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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