Fortive Corporation (FTV) Receives Consensus Rating of “Hold” from Analysts
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%.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The legal version of this news story can be viewed at https://www.watchlistnews.com/fortive-corporation-ftv-receives-consensus-rating-of-hold-from-analysts/1639610.html.
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.
Receive News & Ratings for Fortive Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.