Stock analysts at Barclays started coverage on shares of Fortive (NYSE:FTV) in a report released on Thursday. The firm set an “overweight” rating and a $86.00 price target on the technology company’s stock. Barclays’ target price would suggest a potential upside of 13.68% from the company’s current price.
Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Thursday, January 11th. Citigroup increased their price target on Fortive from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their price target on Fortive from $82.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Argus upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, ValuEngine lowered Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Fortive has an average rating of “Buy” and a consensus price target of $77.50.
Fortive (NYSE FTV) opened at $75.65 on Thursday. Fortive has a 52 week low of $56.73 and a 52 week high of $76.68. The firm has a market capitalization of $26,290.00 and a PE ratio of 27.41. The company has a current ratio of 1.83, a quick ratio of 1.47 and a debt-to-equity ratio of 1.07.
Fortive (NYSE:FTV) last announced its earnings results on Thursday, February 8th. The technology company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.04. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business posted $0.68 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. equities analysts forecast that Fortive will post 3.42 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. HM Payson & Co. lifted its stake in Fortive by 14.2% in the 4th quarter. HM Payson & Co. now owns 77,721 shares of the technology company’s stock worth $5,623,000 after acquiring an additional 9,662 shares in the last quarter. Banco de Sabadell S.A purchased a new stake in Fortive in the 4th quarter worth about $2,093,000. Sterling Capital Management LLC purchased a new stake in Fortive in the 4th quarter worth about $233,000. Fieldpoint Private Securities LLC lifted its stake in Fortive by 20.7% in the 4th quarter. Fieldpoint Private Securities LLC now owns 5,543 shares of the technology company’s stock worth $401,000 after acquiring an additional 949 shares in the last quarter. Finally, Lake Street Advisors Group LLC purchased a new stake in Fortive in the 4th quarter worth about $232,000. 78.59% of the stock is owned by hedge funds and other institutional investors.
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Fortive Company Profile
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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