Citigroup Raises Fortive (FTV) Price Target to $79.00
Fortive (NYSE:FTV) had its price objective boosted by Citigroup from $76.00 to $79.00 in a research note issued to investors on Friday. Citigroup currently has a neutral rating on the technology company’s stock.
A number of other research analysts also recently weighed in on FTV. Zacks Investment Research raised shares of Fortive from a hold rating to a buy rating and set a $82.00 target price for the company in a research report on Thursday, January 11th. BMO Capital Markets reaffirmed a buy rating and issued a $88.00 target price on shares of Fortive in a research report on Friday, January 26th. Stifel Nicolaus raised their target price on shares of Fortive from $62.00 to $72.00 and gave the company a hold rating in a research report on Friday, October 27th. ValuEngine downgraded shares of Fortive from a buy rating to a hold rating in a research report on Thursday, November 30th. Finally, UBS Group assumed coverage on shares of Fortive in a research report on Monday, January 22nd. They issued a buy rating for the company. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Fortive currently has a consensus rating of Hold and an average price target of $75.50.
Fortive (NYSE FTV) opened at $74.30 on Friday. The firm has a market cap of $25,820.00 and a price-to-earnings ratio of 25.10. Fortive has a 12-month low of $56.68 and a 12-month high of $76.68. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.83 and a quick ratio of 1.47.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortive’s dividend payout ratio (DPR) is presently 9.46%.
Several institutional investors and hedge funds have recently made changes to their positions in FTV. Calton & Associates Inc. acquired a new stake in shares of Fortive during the 4th quarter worth about $107,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Fortive during the 3rd quarter worth about $135,000. Willingdon Wealth Management acquired a new stake in shares of Fortive during the 3rd quarter worth about $143,000. Westwood Holdings Group Inc. acquired a new stake in shares of Fortive during the 2nd quarter worth about $139,000. Finally, BB&T Investment Services Inc. acquired a new stake in shares of Fortive during the 2nd quarter worth about $157,000. 78.59% of the stock is owned by institutional investors.
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Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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