Fortive (NYSE:FTV) Sees Strong Trading Volume

Shares of Fortive Co. (NYSE:FTV) saw strong trading volume on Thursday . 1,036,034 shares were traded during mid-day trading, a decline of 41% from the previous session’s volume of 1,759,256 shares.The stock last traded at $73.50 and had previously closed at $71.69.

Analysts Set New Price Targets

Several equities analysts have issued reports on FTV shares. Truist Financial lowered their target price on shares of Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Barclays lowered their target price on shares of Fortive from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Wells Fargo & Company lowered their price objective on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Saturday, August 3rd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.92.

Fortive Price Performance

The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $25.65 billion, a PE ratio of 28.63, a PEG ratio of 2.17 and a beta of 1.12. The company has a 50-day moving average of $72.31 and a 200 day moving average of $77.13.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. Sell-side analysts predict that Fortive Co. will post 3.82 EPS for the current year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Hedge Funds Weigh In On Fortive

Several hedge funds have recently bought and sold shares of FTV. Indiana Trust & Investment Management CO acquired a new stake in Fortive in the 1st quarter valued at about $26,000. Ridgewood Investments LLC acquired a new stake in Fortive in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC acquired a new stake in Fortive in the 2nd quarter valued at about $30,000. Goodman Advisory Group LLC acquired a new stake in Fortive in the 2nd quarter valued at about $31,000. Finally, Advisors Asset Management Inc. acquired a new stake in Fortive in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.