Fortive Corporation (NYSE:FTV)‘s stock had its “equal weight” rating reiterated by research analysts at Morgan Stanley in a report issued on Monday, MarketBeat.com reports. They currently have a $72.00 target price on the technology company’s stock, up from their previous target price of $71.00. Morgan Stanley’s price target points to a potential upside of 0.63% from the company’s previous close.

A number of other brokerages have also issued reports on FTV. Zacks Investment Research upgraded Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Monday, July 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $66.00 price objective (up from $65.00) on shares of Fortive Corporation in a research report on Sunday, July 30th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $62.00 price objective on shares of Fortive Corporation in a research report on Sunday, July 30th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $65.44.

Shares of Fortive Corporation (FTV) traded down 0.21% on Monday, hitting $71.40. The stock had a trading volume of 568,585 shares. The firm has a 50-day moving average price of $69.53 and a 200-day moving average price of $69.53. The stock has a market capitalization of $24.78 billion, a P/E ratio of 28.12 and a beta of 0.37. Fortive Corporation has a 52 week low of $46.81 and a 52 week high of $71.91.

Fortive Corporation (NYSE:FTV) last released its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the company earned $0.64 EPS. Fortive Corporation’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts expect that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.

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In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Park National Corp OH grew its position in shares of Fortive Corporation by 72.9% during the third quarter. Park National Corp OH now owns 46,309 shares of the technology company’s stock valued at $3,278,000 after purchasing an additional 19,529 shares in the last quarter. Hikari Tsushin Inc. increased its holdings in shares of Fortive Corporation by 70.9% in the second quarter. Hikari Tsushin Inc. now owns 51,117 shares of the technology company’s stock worth $3,238,000 after purchasing an additional 21,200 shares during the last quarter. Griffin Asset Management Inc. bought a new stake in shares of Fortive Corporation in the second quarter worth about $1,297,000. Lord Abbett & CO. LLC bought a new stake in shares of Fortive Corporation in the second quarter worth about $17,098,000. Finally, J.P. Marvel Investment Advisors LLC increased its holdings in shares of Fortive Corporation by 0.5% in the second quarter. J.P. Marvel Investment Advisors LLC now owns 16,785 shares of the technology company’s stock worth $1,063,000 after purchasing an additional 90 shares during the last quarter. 78.59% of the stock is owned by institutional investors and hedge funds.

About Fortive Corporation

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.

Analyst Recommendations for Fortive Corporation (NYSE:FTV)

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