Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Fortive Corporation (NYSE:FTV) Share Price
Press coverage about Fortive Corporation (NYSE:FTV) has been trending somewhat positive on Thursday, according to Accern. The research group identifies positive and negative news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Fortive Corporation earned a media sentiment score of 0.17 on Accern’s scale. Accern also gave headlines about the technology company an impact score of 46.5030319655003 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the headlines that may have effected Accern Sentiment Analysis’s rankings:
- Comparing Fortive Corporation (NYSE:FTV) & Axcelis Technologies (ACLS) (americanbankingnews.com)
- Fortive Corp (FTV) AO Trending Up This Week – Financial News Review (finnewsreview.com)
- Microchip Technology Incorporated (MCHP) Stocks Creates Investor’s Concerns: Fortive Corporation (FTV) – Investing News Update (investingbizz.com)
- Is This Just A Random Move? – Fortive Corporation (FTV), Newmont Mining Corporation (NEM) – AllStockNews (allstocknews.com)
- The Boeing Company (BA) Stock Busy in Financial Matters- Fortive Corporation (FTV) – Investing News Update (investingbizz.com)
Fortive Corporation (FTV) traded down 1.93% on Thursday, hitting $65.53. The stock had a trading volume of 1,037,650 shares. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $67.48. The company’s 50 day moving average price is $64.35 and its 200-day moving average price is $61.13. The company has a market cap of $22.75 billion, a price-to-earnings ratio of 25.81 and a beta of 0.23.
Fortive Corporation (NYSE:FTV) last announced its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. Equities research analysts anticipate that Fortive Corporation will post $2.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.43%. The ex-dividend date is Wednesday, August 23rd. Fortive Corporation’s payout ratio is currently 11.02%.
A number of research firms have recently issued reports on FTV. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Monday, July 24th. Morgan Stanley lowered Fortive Corporation from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $61.00 to $65.00 in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “sector perform” rating and issued a $66.00 target price (up previously from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Barclays PLC set a $66.00 target price on Fortive Corporation and gave the company a “buy” rating in a report on Sunday, April 30th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $61.82.
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In other Fortive Corporation news, VP Raj Ratnakar sold 11,642 shares of Fortive Corporation stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total transaction of $725,413.02. Following the sale, the vice president now owns 5,020 shares of the company’s stock, valued at approximately $312,796.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Emily A. Weaver sold 3,749 shares of Fortive Corporation stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. 12.10% of the stock is owned by insiders.
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.
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