Fortive (NYSE:FTV) Lifted to “Buy” at TD Cowen

TD Cowen upgraded shares of Fortive (NYSE:FTV) from a hold rating to a buy rating in a research report sent to investors on Monday morning, MarketBeat reports. TD Cowen currently has $90.00 price target on the technology company’s stock, up from their previous price target of $75.00.

Several other analysts also recently issued reports on FTV. Citigroup cut their price target on Fortive from $101.00 to $98.00 and set a buy rating on the stock in a report on Thursday, April 25th. Truist Financial decreased their target price on shares of Fortive from $96.00 to $89.00 and set a buy rating for the company in a research report on Tuesday, July 2nd. Barclays lifted their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Wells Fargo & Company cut their target price on Fortive from $92.00 to $84.00 and set an equal weight rating for the company in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lowered shares of Fortive from an overweight rating to a neutral rating and reduced their price objective for the company from $95.00 to $90.00 in a research report on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortive has an average rating of Moderate Buy and an average target price of $86.08.

Fortive Stock Performance

Shares of FTV opened at $74.95 on Monday. The stock has a market capitalization of $26.38 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.16 and a beta of 1.12. The business’s fifty day moving average price is $74.47 and its 200 day moving average price is $78.16. 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 has a 12-month low of $63.05 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. Equities research analysts forecast that Fortive will post 3.8 EPS for the current year.

Hedge Funds Weigh In On Fortive

Institutional investors have recently made changes to their positions in the business. Indiana Trust & Investment Management CO bought a new stake in shares of Fortive during the first quarter valued at approximately $26,000. Cetera Trust Company N.A acquired a new stake in Fortive in the fourth quarter worth about $28,000. Advisors Asset Management Inc. bought a new stake in shares of Fortive during the first quarter worth approximately $32,000. Spire Wealth Management lifted its stake in shares of Fortive by 69.3% in the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after purchasing an additional 208 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in shares of Fortive in the 4th quarter valued at $38,000. 94.94% of the stock is currently owned by institutional investors.

About Fortive

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.