Fortive Corporation (NYSE:FTV) has been assigned an average recommendation of “Hold” from the eighteen brokerages that are currently covering the company, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $58.58.
FTV has been the topic of several recent research reports. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Wednesday, April 12th. SunTrust Banks, Inc. raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Wednesday, March 29th. Barclays PLC set a $66.00 target price on shares of Fortive Corporation and gave the stock a “buy” rating in a report on Sunday, April 30th. Morgan Stanley cut shares of Fortive Corporation from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $61.00 to $65.00 in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd.
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Fortive Corporation (NYSE FTV) traded up 1.60% during midday trading on Tuesday, hitting $64.05. The stock had a trading volume of 1,676,673 shares. The company has a market cap of $22.20 billion and a price-to-earnings ratio of 25.13. Fortive Corporation has a 1-year low of $43.00 and a 1-year high of $64.27. The company’s 50 day moving average is $62.80 and its 200 day moving average is $58.46.
Fortive Corporation (NYSE:FTV) last announced its earnings results on Thursday, April 27th. The technology company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Fortive Corporation had a net margin of 14.16% and a return on equity of 34.24%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $0.60 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that Fortive Corporation will post $2.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, May 26th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $0.28 dividend on an annualized basis and a yield of 0.44%. Fortive Corporation’s dividend payout ratio (DPR) is 10.98%.
In related news, VP Emily A. Weaver sold 3,749 shares of Fortive Corporation stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James A. Lico sold 131,994 shares of Fortive Corporation stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $62.34, for a total transaction of $8,228,505.96. Following the completion of the transaction, the insider now directly owns 191,101 shares in the company, valued at $11,913,236.34. The disclosure for this sale can be found here. Insiders sold 147,385 shares of company stock worth $9,187,369 over the last three months.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clearbridge Investments LLC boosted its stake in Fortive Corporation by 5.3% in the first quarter. Clearbridge Investments LLC now owns 9,724 shares of the technology company’s stock worth $586,000 after buying an additional 489 shares during the last quarter. Columbia Partners L L C Investment Management boosted its stake in Fortive Corporation by 138.2% in the first quarter. Columbia Partners L L C Investment Management now owns 41,676 shares of the technology company’s stock worth $2,509,000 after buying an additional 24,180 shares during the last quarter. UBS Oconnor LLC bought a new stake in Fortive Corporation during the first quarter worth $24,088,000. Piedmont Investment Advisors LLC boosted its stake in Fortive Corporation by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 64,234 shares of the technology company’s stock worth $3,868,000 after buying an additional 548 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Fortive Corporation during the first quarter worth $3,384,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
About Fortive Corporation
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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