Fortive (NYSE:FTV) Given New $90.00 Price Target at JPMorgan Chase & Co.

Fortive (NYSE:FTV) had its target price reduced by JPMorgan Chase & Co. from $92.00 to $90.00 in a report issued on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other research firms also recently commented on FTV. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Argus reissued a “hold” rating on shares of Fortive in a report on Monday, November 18th. Barclays lowered their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price target on shares of Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.45.

Fortive Stock Up 0.9 %

FTV stock opened at $78.01 on Wednesday. The business has a 50-day moving average of $76.44 and a 200-day moving average of $74.71. Fortive has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The stock has a market capitalization of $27.07 billion, a P/E ratio of 31.08, a P/E/G ratio of 1.92 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.85 EPS. On average, sell-side analysts anticipate that Fortive will post 3.84 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Friday, November 29th. Fortive’s payout ratio is 12.75%.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction 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 transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FTV. Capital Performance Advisors LLP bought a new stake in shares of Fortive in the third quarter valued at approximately $25,000. Goodman Advisory Group LLC acquired a new position in Fortive in the 2nd quarter valued at $31,000. Pinnacle Bancorp Inc. lifted its position in shares of Fortive by 71.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after acquiring an additional 176 shares during the period. Versant Capital Management Inc grew its holdings in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Fortive in the third quarter worth $41,000. 94.94% of the stock is owned by institutional investors.

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.