Fortive Corporation (NYSE:FTV) Stock Has Average Target Price of $62.36

Fortive Corporation (NYSE:FTV) has been given an average rating of “Hold” by the thirteen research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $61.64.

FTV has been the subject of a number of research reports. Evercore assumed coverage on shares of Fortive in a research report on Monday, September 28th. They set a “hold” rating and a $60.00 target price for the company. Weiss Ratings lowered shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 27th. Argus reissued a “buy” rating and set a $68.00 price objective on shares of Fortive in a research note on Wednesday, August 19th. JPMorgan Chase & Co. dropped their price objective on shares of Fortive from $64.00 to $56.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Truist Financial cut their price objective on Fortive from $68.00 to $63.00 and set a “hold” rating for the company in a research report on Monday, October 5th.

Fortive Stock Performance

Shares of FTV stock opened at $57.27 on Tuesday. The stock has a fifty day moving average price of $57.88 and a 200 day moving average price of $59.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24. The stock has a market cap of $17.30 billion, a PE ratio of 33.89, a P/E/G ratio of 2.37 and a beta of 1.07. Fortive has a 1 year low of $47.95 and a 1 year high of $64.56.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortive had a return on equity of 15.33% and a net margin of 12.38%. Fortive’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Sell-side analysts forecast that Fortive will post 3.02 earnings per share for the current fiscal year.

Fortive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were issued a $0.07 dividend. This is a boost from Fortive’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, September 4th. This represents a $0.28 annualized dividend and a yield of 0.5%. Fortive’s payout ratio is presently 16.57%.

Insider Activity

In other news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction on Monday, August 10th. The stock was sold at an average price of $61.59, for a total value of $533,492.58. Following the completion of the sale, the senior vice president owned 79,118 shares of the company’s stock, valued at $4,872,877.62. The trade was a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fortive

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Fortive during the second quarter worth about $1,626,463,000. Flossbach Von Storch SE acquired a new stake in shares of Fortive in the second quarter valued at about $739,668,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Fortive in the second quarter valued at about $527,526,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Fortive during the 2nd quarter valued at about $211,807,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Fortive by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,085,579 shares of the technology company’s stock valued at $170,537,000 after buying an additional 102,432 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

About Fortive

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides connected products, software, and services for customers in healthcare, manufacturing, infrastructure, and other regulated or asset-intensive industries. Its offerings are designed to improve productivity, operating efficiency, safety, compliance, and the reliability of critical equipment and processes.

The company’s businesses have included electronic test and measurement instruments, calibration and asset-management solutions, workplace and public-safety products, industrial software, and healthcare technologies.