Wells Fargo & Company Cuts Fortive (NYSE:FTV) Price Target to $58.00

Fortive (NYSE:FTV) had its target price reduced by equities researchers at Wells Fargo & Company from $65.00 to $58.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 3.55% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Citigroup upped their target price on shares of Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Robert W. Baird set a $65.00 price target on shares of Fortive in a report on Thursday, February 5th. Royal Bank Of Canada raised their price objective on shares of Fortive from $56.00 to $65.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. boosted their target price on Fortive from $57.00 to $63.00 and gave the stock an “underweight” rating in a report on Wednesday, February 11th. Finally, Zacks Research upgraded Fortive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Fortive has a consensus rating of “Hold” and an average target price of $60.69.

Fortive Price Performance

NYSE FTV traded up $0.73 during trading on Wednesday, reaching $56.01. 875,950 shares of the company traded hands, compared to its average volume of 3,875,119. Fortive has a 1-year low of $46.34 and a 1-year high of $74.67. The company has a market cap of $17.24 billion, a price-to-earnings ratio of 32.39, a P/E/G ratio of 2.89 and a beta of 1.10. The stock’s 50 day moving average price is $56.37 and its two-hundred day moving average price is $53.51. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.71.

Fortive (NYSE:FTV) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company earned $1.17 EPS. Fortive’s revenue was up 4.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, analysts anticipate that Fortive will post 4.05 EPS for the current year.

Insider Transactions at Fortive

In other Fortive news, Director Kate Mitchell sold 7,131 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $58.34, for a total value of $416,022.54. Following the transaction, the director directly owned 31,775 shares in the company, valued at approximately $1,853,753.50. This trade represents a 18.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Fortive

Hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its holdings in Fortive by 7.0% during the 4th quarter. Hsbc Holdings PLC now owns 2,026,810 shares of the technology company’s stock worth $112,066,000 after purchasing an additional 133,447 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Fortive by 18.9% in the 4th quarter. Corient Private Wealth LLC now owns 100,786 shares of the technology company’s stock valued at $5,566,000 after purchasing an additional 16,033 shares during the last quarter. Auto Owners Insurance Co boosted its stake in shares of Fortive by 5,421.0% in the 4th quarter. Auto Owners Insurance Co now owns 240,164 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 235,814 shares during the last quarter. Storen Legacy Partners LLC acquired a new stake in shares of Fortive during the 4th quarter worth approximately $1,020,000. Finally, Nolet Wealth Management LLC bought a new stake in shares of Fortive during the fourth quarter worth approximately $629,000. Institutional investors own 94.94% of the company’s stock.

Fortive Company Profile

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.