Shares of Fortive Corp (NYSE:FTV) have earned a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $77.33.
Several research firms have recently commented on FTV. Zacks Investment Research lowered Fortive from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Argus raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. BMO Capital Markets reissued a “buy” rating and issued a $88.00 price objective on shares of Fortive in a report on Friday, January 26th. Royal Bank of Canada reissued a “hold” rating and issued a $79.00 price objective on shares of Fortive in a report on Thursday, January 4th. Finally, UBS Group started coverage on Fortive in a report on Monday, January 22nd. They issued a “buy” rating for the company.
Hedge funds have recently modified their holdings of the stock. Ashfield Capital Partners LLC lifted its position in shares of Fortive by 3.8% during the 4th quarter. Ashfield Capital Partners LLC now owns 18,760 shares of the technology company’s stock valued at $1,357,000 after acquiring an additional 685 shares during the last quarter. Marble Harbor Investment Counsel LLC lifted its position in shares of Fortive by 9.0% during the 3rd quarter. Marble Harbor Investment Counsel LLC now owns 8,475 shares of the technology company’s stock valued at $600,000 after acquiring an additional 700 shares during the last quarter. Amalgamated Bank lifted its position in shares of Fortive by 2.0% during the 3rd quarter. Amalgamated Bank now owns 36,808 shares of the technology company’s stock valued at $2,606,000 after acquiring an additional 719 shares during the last quarter. Lombard Odier Asset Management Switzerland SA lifted its position in shares of Fortive by 2.2% during the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 36,741 shares of the technology company’s stock valued at $2,658,000 after acquiring an additional 774 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Fortive by 2.7% during the 3rd quarter. CIBC Asset Management Inc now owns 30,124 shares of the technology company’s stock valued at $2,132,000 after acquiring an additional 781 shares during the last quarter. 78.31% of the stock is owned by institutional investors and hedge funds.
Fortive (NYSE FTV) traded up $0.20 during trading hours on Tuesday, hitting $75.85. The stock had a trading volume of 1,636,891 shares, compared to its average volume of 1,777,332. The company has a market capitalization of $26,311.07, a price-to-earnings ratio of 25.63, a PEG ratio of 2.28 and a beta of 0.51. Fortive has a 52 week low of $56.73 and a 52 week high of $76.68. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.83 and a quick ratio of 1.47.
Fortive (NYSE:FTV) last posted its earnings results on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.77 billion. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. sell-side analysts forecast that Fortive will post 3.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 23rd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Thursday, February 22nd. Fortive’s dividend payout ratio (DPR) is 9.46%.
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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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