Fortive Corporation (NYSE:FTV) has earned an average recommendation of “Hold” from the thirteen analysts that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $66.50.

FTV has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Monday, July 24th. Royal Bank Of Canada reiterated a “hold” rating and issued a $70.00 target price on shares of Fortive Corporation in a report on Wednesday, October 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $72.00 target price (up from $71.00) on shares of Fortive Corporation in a report on Monday, October 2nd. Citigroup Inc. reiterated a “neutral” rating and issued a $72.00 target price (up from $65.00) on shares of Fortive Corporation in a report on Monday, October 9th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a report on Sunday, July 30th.

Shares of Fortive Corporation (NYSE:FTV) traded up 0.18% during mid-day trading on Wednesday, reaching $71.62. 855,768 shares of the company traded hands. The firm has a 50 day moving average of $69.58 and a 200-day moving average of $64.93. Fortive Corporation has a 52 week low of $46.81 and a 52 week high of $73.21. The stock has a market capitalization of $24.86 billion, a PE ratio of 28.21 and a beta of 0.39.

Fortive Corporation (NYSE:FTV) last announced its earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, equities research analysts expect that Fortive Corporation will post $2.80 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, August 25th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. Fortive Corporation’s payout ratio is 11.02%.

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

Several hedge funds have recently modified their holdings of FTV. BlackRock Inc. grew its stake in shares of Fortive Corporation by 2,497.9% during the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock worth $996,902,000 after acquiring an additional 15,917,140 shares during the last quarter. Capital World Investors grew its stake in shares of Fortive Corporation by 37.9% during the second quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock worth $622,996,000 after acquiring an additional 2,701,496 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Fortive Corporation by 64,460.2% during the second quarter. Bessemer Group Inc. now owns 2,640,512 shares of the technology company’s stock worth $167,275,000 after acquiring an additional 2,636,422 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Fortive Corporation during the first quarter worth about $115,464,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Fortive Corporation during the first quarter worth about $115,464,000. Institutional investors and hedge funds own 78.54% of the company’s stock.

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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