Fortive (NYSE:FTV – Free Report) had its price objective lowered by JPMorgan Chase & Co. from $92.00 to $90.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.
FTV has been the subject of several other reports. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Royal Bank of Canada reduced their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. UBS Group assumed coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective for the company. Finally, Truist Financial raised their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $86.45.
View Our Latest Analysis on FTV
Fortive Price Performance
Fortive (NYSE:FTV – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. Fortive’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 EPS. Equities analysts expect that Fortive will post 3.84 earnings per share for the current year.
Fortive Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. Fortive’s dividend payout ratio (DPR) is currently 12.75%.
Insider Buying and Selling
In related news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of FTV. Capital Performance Advisors LLP acquired a new stake in shares of Fortive during the 3rd quarter valued at $25,000. Goodman Advisory Group LLC bought a new position in Fortive in the second quarter valued at about $31,000. Pinnacle Bancorp Inc. boosted its stake in shares of Fortive by 71.0% during the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after purchasing an additional 176 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares during the last quarter. Finally, Albion Financial Group UT acquired a new position in shares of Fortive in the fourth quarter valued at approximately $38,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.
Fortive Company Profile
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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