Fortive (NYSE:FTV) Shares Gap Up to $72.41

Shares of Fortive Co. (NYSE:FTVGet Free Report) gapped up prior to trading on Monday . The stock had previously closed at $72.41, but opened at $74.68. Fortive shares last traded at $73.57, with a volume of 152,296 shares traded.

Wall Street Analyst Weigh In

FTV has been the topic of several research reports. Royal Bank of Canada reduced their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, April 25th. Wells Fargo & Company reduced their price objective on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Citigroup reduced their price objective on Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Truist Financial reduced their price objective on Fortive from $96.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.08.

Get Our Latest Analysis on FTV

Fortive Stock Down 1.2 %

The company has a 50-day simple moving average of $74.52 and a 200-day simple moving average of $78.22. The firm has a market cap of $25.57 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 2.16 and a beta of 1.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17.

Fortive (NYSE:FTVGet Free Report) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Analysts expect that Fortive Co. will post 3.8 earnings per share for the current fiscal year.

Institutional Trading of Fortive

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Fortive by 1.0% in the third quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock valued at $1,415,902,000 after purchasing an additional 181,948 shares during the period. Flossbach Von Storch AG boosted its holdings in shares of Fortive by 4.8% in the fourth quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock valued at $817,873,000 after purchasing an additional 512,414 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Fortive by 13.1% in the fourth quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock valued at $557,929,000 after purchasing an additional 878,523 shares during the period. Boston Partners boosted its holdings in shares of Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after purchasing an additional 1,045,245 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Fortive by 47.1% in the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after purchasing an additional 1,999,792 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Company Profile

(Get Free Report)

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.

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