Fortive (NYSE:FTV) Given New $90.00 Price Target at Barclays

Fortive (NYSE:FTV) had its price target dropped by equities researchers at Barclays from $95.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 17.39% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Truist Financial boosted their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $86.00 in a report on Monday, December 9th. Argus reaffirmed a “hold” rating on shares of Fortive in a report on Monday, November 18th. UBS Group started coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.64.

Fortive Stock Up 0.2 %

Shares of NYSE FTV opened at $76.67 on Wednesday. Fortive has a 12-month low of $66.15 and a 12-month high of $87.10. The stock has a market cap of $26.60 billion, a P/E ratio of 30.55, a PEG ratio of 2.11 and a beta of 1.14. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The business’s fifty day simple moving average is $75.94 and its 200-day simple moving average is $74.61.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the company earned $0.85 EPS. Fortive’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that Fortive will post 3.85 EPS for the current fiscal year.

Insider Activity

In other news, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now directly owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Fortive

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTV. Private Advisor Group LLC grew its holdings in Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock worth $308,000 after acquiring an additional 135 shares during the period. Patton Albertson Miller Group LLC increased its holdings in Fortive by 1.7% in the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after buying an additional 150 shares in the last quarter. Andina Capital Management LLC lifted its position in shares of Fortive by 3.4% during the 3rd quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock valued at $362,000 after acquiring an additional 152 shares during the period. Axiom Advisory LLC boosted its stake in shares of Fortive by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 10,048 shares of the technology company’s stock worth $734,000 after acquiring an additional 157 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC increased its stake in Fortive by 4.7% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 3,641 shares of the technology company’s stock valued at $270,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

About Fortive

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.