Fortive Corporation (NYSE:FTV) Stock Has Consensus Target Price of $62.36

Fortive Corporation (NYSE:FTV) has been assigned a consensus rating of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $61.64.

A number of equities research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of Fortive from $68.00 to $63.00 and set a “hold” rating for the company in a report on Monday, October 5th. Argus reiterated a “buy” rating and issued a $68.00 price objective on shares of Fortive in a research note on Wednesday, August 19th. Weiss Ratings lowered Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. Evercore started coverage on Fortive in a research report on Monday, September 28th. They set a “hold” rating and a $60.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on Fortive from $64.00 to $56.00 and set an “underweight” rating for the company in a research note on Friday.

Fortive Price Performance

NYSE FTV opened at $57.25 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $57.93 and a 200 day simple moving average of $59.25. The company has a market cap of $17.29 billion, a P/E ratio of 33.88, a P/E/G ratio of 2.37 and a beta of 1.07. Fortive has a 1 year low of $47.71 and a 1 year high of $64.56.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortive had a net margin of 12.38% and a return on equity of 15.33%. Fortive’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, sell-side analysts predict that Fortive will post 3.02 EPS for the current year.

Fortive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.28 annualized dividend and a yield of 0.5%. This is an increase from Fortive’s previous quarterly dividend of $0.06. Fortive’s dividend payout ratio (DPR) is presently 16.57%.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $61.59, for a total value of $533,492.58. Following the transaction, the senior vice president directly owned 79,118 shares of the company’s stock, valued at $4,872,877.62. The trade was a 9.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fortive

Hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Fortive in the 2nd quarter valued at $1,626,463,000. Flossbach Von Storch SE bought a new position in shares of Fortive during the 2nd quarter worth about $739,668,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Fortive during the 2nd quarter valued at about $527,526,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Fortive during the 2nd quarter valued at about $211,807,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Fortive by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,085,579 shares of the technology company’s stock valued at $170,537,000 after acquiring an additional 102,432 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

About Fortive

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides connected products, software, and services for customers in healthcare, manufacturing, infrastructure, and other regulated or asset-intensive industries. Its offerings are designed to improve productivity, operating efficiency, safety, compliance, and the reliability of critical equipment and processes.

The company’s businesses have included electronic test and measurement instruments, calibration and asset-management solutions, workplace and public-safety products, industrial software, and healthcare technologies.