Royal Bank of Canada Lowers Fortive (NYSE:FTV) Price Target to $77.00

Fortive (NYSE:FTV) had its price target cut by equities research analysts at Royal Bank of Canada from $85.00 to $77.00 in a report released on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 7.93% from the company’s current price.

A number of other research firms also recently weighed in on FTV. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and increased their price target for the company from $75.00 to $90.00 in a research note on Monday, July 8th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Thursday, September 5th. Wells Fargo & Company lifted their price objective on shares of Fortive from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $90.00 in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.20.

Fortive Trading Down 0.1 %

Shares of FTV opened at $71.34 on Thursday. The stock’s fifty day simple moving average is $75.27 and its 200-day simple moving average is $74.48. The company has a quick ratio of 0.95, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $24.99 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 2.09 and a beta of 1.12. Fortive has a 12-month low of $64.69 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The company 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%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. As a group, research analysts predict that Fortive will post 3.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FTV. Lipe & Dalton increased its position in shares of Fortive by 1.9% during the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after purchasing an additional 130 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Fortive by 3.6% in the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock valued at $308,000 after buying an additional 135 shares in the last quarter. RDA Financial Network increased its holdings in Fortive by 3.4% during the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after buying an additional 138 shares during the last quarter. Pitcairn Co. raised its position in Fortive by 1.3% during the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock worth $961,000 after acquiring an additional 139 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Fortive by 0.8% in the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock valued at $1,371,000 after acquiring an additional 146 shares during the last quarter. 94.94% of the stock is 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.