SunTrust Banks, Inc. Reaffirms “Buy” Rating for Fortive Corporation (FTV)

Fortive Corporation (NYSE:FTV)‘s stock had its “buy” rating reissued by analysts at SunTrust Banks, Inc. in a research note issued on Friday, October 27th. They presently have a $81.00 price target on the technology company’s stock. SunTrust Banks, Inc.’s price target indicates a potential upside of 11.49% from the company’s current price. SunTrust Banks also issued estimates for Fortive Corporation’s Q4 2017 earnings at $0.77 EPS, FY2017 earnings at $2.85 EPS, Q1 2018 earnings at $0.71 EPS, Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $3.19 EPS, Q1 2019 earnings at $0.76 EPS, Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $0.91 EPS and FY2019 earnings at $3.46 EPS.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Monday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Stifel Nicolaus increased their price objective on Fortive Corporation from $62.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $66.00 price objective (up previously from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Finally, Citigroup Inc. increased their price objective on Fortive Corporation from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Fortive Corporation currently has an average rating of “Hold” and an average price target of $69.10.

Fortive Corporation (NYSE FTV) opened at $72.65 on Friday. The stock has a market capitalization of $25,260.00 and a price-to-earnings ratio of 26.32. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54. Fortive Corporation has a 12 month low of $52.99 and a 12 month high of $74.38.

Fortive Corporation (NYSE:FTV) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Fortive Corporation had a return on equity of 31.67% and a net margin of 14.39%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. equities research analysts expect that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.

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In other news, insider James A. Lico sold 50,000 shares of Fortive Corporation stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total value of $3,657,000.00. Following the sale, the insider now directly owns 166,014 shares in the company, valued at approximately $12,142,263.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Charles E. Mclaughlin sold 6,565 shares of Fortive Corporation stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $66.09, for a total value of $433,880.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,340 shares of company stock worth $4,437,021. 12.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CENTRAL TRUST Co lifted its stake in shares of Fortive Corporation by 1.0% in the 2nd quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after purchasing an additional 23 shares during the period. Mirador Capital Partners LP lifted its stake in shares of Fortive Corporation by 0.4% in the 2nd quarter. Mirador Capital Partners LP now owns 6,013 shares of the technology company’s stock valued at $404,000 after purchasing an additional 26 shares during the period. North Star Asset Management Inc. lifted its stake in shares of Fortive Corporation by 0.4% in the 2nd quarter. North Star Asset Management Inc. now owns 7,701 shares of the technology company’s stock valued at $488,000 after purchasing an additional 32 shares during the period. Atria Investments LLC lifted its stake in shares of Fortive Corporation by 1.4% in the 2nd quarter. Atria Investments LLC now owns 4,570 shares of the technology company’s stock valued at $289,000 after purchasing an additional 61 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Fortive Corporation by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,402 shares of the technology company’s stock valued at $1,419,000 after purchasing an additional 72 shares during the period. Institutional investors own 79.02% of the company’s stock.

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.

Analyst Recommendations for Fortive Corporation (NYSE:FTV)

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