Fortive Corporation (NYSE:FTV) Given Consensus Rating of “Hold” by Analysts

Fortive Corporation (NYSE:FTV) has earned a consensus rating of “Hold” from the sixteen analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $61.5385.

Several analysts have recently issued reports on the stock. Zacks Research lowered shares of Fortive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada boosted their price target on shares of Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Fortive in a research report on Friday, May 22nd. Truist Financial reissued a “hold” rating and issued a $61.00 price target (up from $56.00) on shares of Fortive in a research report on Monday, May 4th. Finally, Morgan Stanley boosted their price objective on shares of Fortive from $53.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 18th.

Fortive Stock Performance

NYSE FTV opened at $60.19 on Wednesday. The company’s 50 day moving average is $58.74 and its 200-day moving average is $56.49. Fortive has a 12-month low of $46.34 and a 12-month high of $73.77. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.43. The firm has a market cap of $18.35 billion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 3.15 and a beta of 1.06.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.06. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Sell-side analysts predict that Fortive will post 2.96 earnings per share for the current year.

Fortive declared that its Board of Directors has approved a stock repurchase plan on Monday, May 4th that permits the company to buyback 20,000,000 shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, SVP Peter C. Underwood sold 47,557 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the completion of the transaction, the senior vice president owned 87,780 shares of the company’s stock, valued at approximately $5,337,901.80. The trade was a 35.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fortive

Several hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. grew its stake in Fortive by 800.6% during the first quarter. Optiver Holding B.V. now owns 1,549 shares of the technology company’s stock valued at $86,000 after acquiring an additional 1,377 shares in the last quarter. First Nebraska Trust Co purchased a new position in Fortive during the first quarter valued at approximately $2,453,000. Glenmede Trust Co. NA grew its stake in Fortive by 22.7% during the first quarter. Glenmede Trust Co. NA now owns 19,307 shares of the technology company’s stock valued at $1,067,000 after acquiring an additional 3,570 shares in the last quarter. Groupe la Francaise grew its stake in Fortive by 9.2% during the first quarter. Groupe la Francaise now owns 122,559 shares of the technology company’s stock valued at $6,775,000 after acquiring an additional 10,363 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Fortive by 51.0% during the first quarter. Janus Henderson Group PLC now owns 73,045 shares of the technology company’s stock valued at $4,038,000 after acquiring an additional 24,683 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Company Profile

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.