Fortive (NYSE:FTV) Earns Hold Rating from Argus

Argus reaffirmed their hold rating on shares of Fortive (NYSE:FTV) in a research note released on Monday morning, MarketBeat Ratings reports.

FTV has been the subject of several other research reports. Morgan Stanley started coverage on Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective for the company. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Thursday, September 5th. Wells Fargo & Company dropped their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Truist Financial lowered their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.82.

Fortive Stock Up 1.4 %

Fortive stock opened at $76.84 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The firm’s fifty day moving average price is $75.76 and its two-hundred day moving average price is $74.17. The firm has a market capitalization of $26.66 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. Fortive has a 1-year low of $66.15 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the company posted $0.85 earnings per share. Fortive’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Fortive will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is 12.75%.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,895 shares of company stock valued at $14,261,051. Company insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in Fortive during the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC acquired a new position in shares of Fortive in the second quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in shares of Fortive during the 2nd quarter worth $30,000. Goodman Advisory Group LLC purchased a new position in shares of Fortive during the 2nd quarter worth about $31,000. Finally, Advisors Asset Management Inc. purchased a new position in Fortive during the first quarter worth approximately $32,000. 94.94% of the stock is owned by institutional investors and hedge funds.

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.