Fortive (NYSE:FTV) Given New $85.00 Price Target at Barclays

Fortive (NYSE:FTV) had its target price dropped by research analysts at Barclays from $90.00 to $85.00 in a research report issued on Wednesday, Marketbeat reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 13.85% from the stock’s previous close.

A number of other equities research analysts have also recently commented on FTV. Royal Bank of Canada raised their target price on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company upped their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.18.

Fortive Trading Down 0.7 %

Shares of NYSE:FTV opened at $74.66 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Fortive has a 12-month low of $66.15 and a 12-month high of $86.21. The business has a 50 day moving average of $78.48 and a two-hundred day moving average of $76.93. The company has a market capitalization of $25.41 billion, a PE ratio of 31.63, a PEG ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV) last posted its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, analysts forecast that Fortive will post 4.05 EPS for the current year.

Insider Buying and Selling at Fortive

In other Fortive news, CEO James A. Lico sold 196,117 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the sale, the chief executive officer now directly owns 528,851 shares in the company, valued at $42,509,043.38. This represents a 27.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stacey A. Walker sold 5,688 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the sale, the senior vice president now directly owns 47,141 shares of the company’s stock, valued at $3,795,793.32. This trade represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,385 shares of company stock worth $19,508,529. Insiders own 1.01% of the company’s stock.

Institutional Trading of Fortive

Several hedge funds have recently made changes to their positions in the company. Parvin Asset Management LLC purchased a new stake in shares of Fortive during the 4th quarter valued at approximately $26,000. Park Square Financial Group LLC purchased a new stake in Fortive in the fourth quarter valued at $30,000. Whipplewood Advisors LLC purchased a new stake in Fortive in the fourth quarter valued at $31,000. Versant Capital Management Inc lifted its stake in shares of Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares during the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of Fortive during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.