Fortive (NYSE:FTV) Given New $63.00 Price Target at JPMorgan Chase & Co.

Fortive (NYSE:FTV) had its target price increased by JPMorgan Chase & Co. from $57.00 to $63.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an underweight rating on the technology company’s stock.

Several other research firms have also recently weighed in on FTV. Robert W. Baird set a $65.00 price objective on Fortive in a report on Thursday, February 5th. Royal Bank Of Canada lifted their price target on shares of Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Barclays upped their price target on shares of Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a report on Monday. Citigroup increased their price objective on shares of Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Morgan Stanley boosted their price objective on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortive has an average rating of “Hold” and an average price target of $60.85.

Fortive Trading Down 5.2%

Shares of NYSE FTV opened at $58.67 on Wednesday. Fortive has a twelve month low of $46.34 and a twelve month high of $83.32. The stock has a market cap of $18.64 billion, a price-to-earnings ratio of 33.92, a P/E/G ratio of 3.34 and a beta of 1.12. The company has a quick ratio of 0.58, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average is $55.35 and its 200-day moving average is $51.50.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the business posted $1.17 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities research analysts predict that Fortive will post 4.05 EPS for the current year.

Hedge Funds Weigh In On Fortive

Several large investors have recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Fortive by 97.1% in the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after buying an additional 2,811 shares during the period. Empowered Funds LLC grew its holdings in Fortive by 6.9% during the 1st quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after acquiring an additional 430 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Fortive by 36.0% during the second quarter. Vontobel Holding Ltd. now owns 7,295 shares of the technology company’s stock valued at $380,000 after acquiring an additional 1,933 shares during the last quarter. Finally, Aberdeen Group plc raised its stake in shares of Fortive by 5.0% during the second quarter. Aberdeen Group plc now owns 311,979 shares of the technology company’s stock valued at $16,263,000 after acquiring an additional 14,797 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.