Fortive’s (FTV) “Underperform” Rating Reiterated at Mizuho

Mizuho restated their underperform rating on shares of Fortive (NYSE:FTV) in a research note published on Monday, Marketbeat Ratings reports. Mizuho currently has a $51.00 price target on the technology company’s stock, down from their previous price target of $54.00.

FTV has been the topic of several other research reports. Morgan Stanley increased their target price on Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Wells Fargo & Company boosted their price objective on Fortive from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Monday, December 22nd. Robert W. Baird raised their target price on Fortive from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Zacks Research upgraded Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Citigroup increased their price target on shares of Fortive from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.62.

Fortive Price Performance

NYSE FTV opened at $54.13 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. The company has a market cap of $17.19 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 3.12 and a beta of 1.13. Fortive has a 52 week low of $46.34 and a 52 week high of $83.32. The firm’s 50-day simple moving average is $53.33 and its two-hundred day simple moving average is $51.49.

Fortive (NYSE:FTV) last posted its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The firm had revenue of $1.07 billion during the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. Research analysts predict that Fortive will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, November 28th. Fortive’s dividend payout ratio (DPR) is currently 13.71%.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the transaction, the senior vice president owned 59,488 shares of the company’s stock, valued at $2,995,220.80. The trade was a 3.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fortive

A number of large investors have recently added to or reduced their stakes in FTV. Brighton Jones LLC boosted its holdings in shares of Fortive by 97.1% in the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after purchasing an additional 2,811 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its position in Fortive by 6.4% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 14,294 shares of the technology company’s stock worth $1,046,000 after buying an additional 861 shares during the last quarter. AQR Capital Management LLC boosted its stake in Fortive by 12.4% in the first quarter. AQR Capital Management LLC now owns 98,987 shares of the technology company’s stock worth $7,130,000 after buying an additional 10,934 shares in the last quarter. Scientech Research LLC bought a new position in Fortive during the first quarter valued at approximately $644,000. Finally, UniSuper Management Pty Ltd raised its stake in shares of Fortive by 3.6% during the first quarter. UniSuper Management Pty Ltd now owns 37,709 shares of the technology company’s stock worth $2,760,000 after acquiring an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.