Shares of Fortive Co. (NYSE:FTV – Get Rating) have earned an average recommendation of "Hold" from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $72.64.
A number of brokerages have issued reports on FTV. Royal Bank of Canada upped their price objective on Fortive from $61.00 to $68.00 in a research report on Friday, July 29th. Robert W. Baird dropped their target price on Fortive from $81.00 to $77.00 in a research report on Friday, July 29th. Credit Suisse Group set a $74.00 price objective on Fortive in a report on Tuesday, July 19th. Mizuho reduced their target price on Fortive from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Monday, July 18th. Finally, Wells Fargo & Company lifted their price objective on Fortive from $57.00 to $63.00 and gave the company an "equal weight" rating in a research note on Monday, August 1st.
Get Fortive alerts:Fortive Price Performance
Shares of FTV stock opened at $59.21 on Thursday. The firm has a market cap of $21.06 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.05 and a beta of 1.15. Fortive has a fifty-two week low of $52.47 and a fifty-two week high of $79.87. The business's 50 day moving average price is $63.83 and its 200-day moving average price is $60.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.73 and a current ratio of 0.94.
Fortive (NYSE:FTV – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The technology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. Fortive had a return on equity of 11.25% and a net margin of 11.86%. The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The company's revenue was up 10.9% on a year-over-year basis. On average, equities research analysts anticipate that Fortive will post 3.11 earnings per share for the current year.Fortive Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, August 30th. Fortive's payout ratio is 15.56%.
Institutional Trading of Fortive
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTV. Price T Rowe Associates Inc. MD grew its stake in shares of Fortive by 48.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 40,725,663 shares of the technology company's stock worth $2,214,661,000 after acquiring an additional 13,237,805 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Fortive by 2.7% in the first quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company's stock worth $2,288,355,000 after acquiring an additional 989,883 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Fortive by 1.1% in the first quarter. Royal Bank of Canada now owns 17,585,960 shares of the technology company's stock worth $1,071,512,000 after acquiring an additional 197,196 shares in the last quarter. Flossbach Von Storch AG grew its stake in shares of Fortive by 13.2% in the first quarter. Flossbach Von Storch AG now owns 12,492,886 shares of the technology company's stock worth $761,192,000 after acquiring an additional 1,457,136 shares in the last quarter. Finally, Viking Global Investors LP grew its stake in shares of Fortive by 41.8% in the first quarter. Viking Global Investors LP now owns 12,033,157 shares of the technology company's stock worth $733,180,000 after acquiring an additional 3,548,215 shares in the last quarter. Hedge funds and other institutional investors own 94.65% of the company's stock.
About Fortive
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Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.
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