Recent Investment Analysts’ Ratings Updates for Fortive (FTV)

Fortive (NYSE: FTV) has recently received a number of price target changes and ratings updates:

• 9/13/2024 – Fortive was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/6/2024 – Fortive had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $77.00 price target on the stock.
• 9/6/2024 – Fortive was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating.
• 9/6/2024 – Fortive had its price target raised by analysts at Barclays PLC from $91.00 to $94.00. They now have an “overweight” rating on the stock.
• 9/6/2024 – Fortive is now covered by analysts at Morgan Stanley. They set an “overweight” rating and a $89.00 price target on the stock.
• 9/6/2024 – Fortive was upgraded by analysts at Mizuho from a “neutral” rating to an “outperform” rating. They now have a $90.00 price target on the stock, up previously from $80.00.
• 9/5/2024 – Fortive was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $85.00 price target on the stock.
• 9/5/2024 – Fortive was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/3/2024 – Fortive was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 7/26/2024 – Fortive was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/25/2024 – Fortive had its price target lowered by analysts at Royal Bank of Canada from $83.00 to $77.00. They now have a “sector perform” rating on the stock.
• 7/25/2024 – Fortive had its price target lowered by analysts at Barclays PLC from $93.00 to $91.00. They now have an “overweight” rating on the stock.
• 7/25/2024 – Fortive had its price target lowered by analysts at Truist Financial Co. from $89.00 to $82.00. They now have a “buy” rating on the stock.

Fortive Price Performance

NYSE:FTV opened at $73.60 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $72.28 and a two-hundred day moving average of $76.44. The firm has a market cap of $25.79 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts expect that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is 12.65%.

Institutional Trading of Fortive

Institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new position in Fortive in the 2nd quarter valued at about $985,000. New Century Financial Group LLC boosted its position in Fortive by 36.2% in the 2nd quarter. New Century Financial Group LLC now owns 3,694 shares of the technology company’s stock valued at $274,000 after buying an additional 982 shares during the period. Cetera Investment Advisers grew its stake in shares of Fortive by 7.5% in the second quarter. Cetera Investment Advisers now owns 56,497 shares of the technology company’s stock worth $4,187,000 after acquiring an additional 3,951 shares in the last quarter. Truist Financial Corp increased its position in shares of Fortive by 1.1% during the second quarter. Truist Financial Corp now owns 142,068 shares of the technology company’s stock worth $10,527,000 after acquiring an additional 1,519 shares during the period. Finally, Brown Shipley& Co Ltd increased its position in shares of Fortive by 3.0% during the second quarter. Brown Shipley& Co Ltd now owns 56,174 shares of the technology company’s stock worth $4,163,000 after acquiring an additional 1,655 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.