JPMorgan Chase & Co. Issues Pessimistic Forecast for Fortive (NYSE:FTV) Stock Price

Fortive (NYSE:FTV) had its target price reduced by analysts at JPMorgan Chase & Co. from $64.00 to $56.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 2.18% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Evercore began coverage on shares of Fortive in a research report on Monday, September 28th. They set a “hold” rating and a $60.00 price objective on the stock. Weiss Ratings lowered Fortive from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Argus reiterated a “buy” rating and issued a $68.00 price objective on shares of Fortive in a report on Wednesday, August 19th. Finally, Truist Financial reduced their target price on Fortive from $68.00 to $63.00 and set a “hold” rating for the company in a report on Monday. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Fortive has a consensus rating of “Hold” and a consensus target price of $61.64.

Fortive Stock Performance

NYSE:FTV traded up $0.83 during mid-day trading on Friday, hitting $57.25. The stock had a trading volume of 817,999 shares, compared to its average volume of 3,123,052. 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 50 day simple moving average of $57.97 and a 200-day simple moving average of $59.27. The stock has a market capitalization of $17.29 billion, a price-to-earnings ratio of 33.83, a P/E/G ratio of 2.34 and a beta of 1.07. Fortive has a 52 week low of $47.71 and a 52 week high of $64.56.

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

Insider Buying and Selling at Fortive

In related news, SVP Peter C. Underwood sold 8,662 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $61.59, for a total transaction of $533,492.58. Following the completion of the transaction, the senior vice president owned 79,118 shares in the company, valued at approximately $4,872,877.62. This represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fortive

Several institutional investors and hedge funds have recently made changes to their positions in FTV. Dakota Community Bank & Trust NA grew its stake in Fortive by 42.9% in the third quarter. Dakota Community Bank & Trust NA now owns 1,002 shares of the technology company’s stock valued at $55,000 after acquiring an additional 301 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Fortive by 20.2% in the third quarter. GAMMA Investing LLC now owns 4,728 shares of the technology company’s stock valued at $259,000 after purchasing an additional 793 shares in the last quarter. North Point Portfolio Managers Corp OH bought a new position in Fortive during the 3rd quarter valued at $44,000. QRG Capital Management Inc. grew its position in Fortive by 13.8% in the 2nd quarter. QRG Capital Management Inc. now owns 17,973 shares of the technology company’s stock worth $1,098,000 after purchasing an additional 2,175 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA boosted its stake in Fortive by 28.0% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,954 shares of the technology company’s stock valued at $852,000 after acquiring an additional 3,052 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.