Fortive Corporation (NYSE:FTV) Receives $61.62 Average Target Price from Analysts

Fortive Corporation (NYSE:FTV) has received a consensus rating of “Hold” from the fourteen research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $61.8333.

A number of equities analysts have issued reports on FTV shares. Royal Bank Of Canada upped their target price on Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, May 12th. Zacks Research cut Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Citigroup upped their price objective on Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, May 11th.

Insider Transactions at Fortive

In other news, SVP Peter C. Underwood sold 47,557 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $60.81, for a total value of $2,891,941.17. Following the transaction, the senior vice president directly owned 87,780 shares of the company’s stock, valued at $5,337,901.80. The trade was a 35.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortive

Institutional investors and hedge funds have recently made changes to their positions in the stock. DV Equities LLC bought a new stake in Fortive during the fourth quarter worth $25,000. Root Financial Partners LLC raised its position in Fortive by 43.6% in the 4th quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after buying an additional 168 shares during the last quarter. Main Street Group LTD bought a new position in Fortive during the 1st quarter valued at $31,000. Geneos Wealth Management Inc. lifted its stake in Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares in the last quarter. Finally, Dakota Community Bank & Trust NA boosted its holdings in Fortive by 59.2% during the 1st quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company’s stock worth $39,000 after acquiring an additional 261 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 1.5%

Shares of FTV opened at $62.70 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.43. Fortive has a 12 month low of $46.34 and a 12 month high of $63.40. The firm’s 50 day moving average is $60.46 and its 200-day moving average is $57.81. The stock has a market capitalization of $19.12 billion, a PE ratio of 37.55 and a beta of 1.06.

Fortive (NYSE:FTV) last released its earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.04 billion. Fortive had a return on equity of 12.66% and a net margin of 12.84%.Fortive’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities research analysts forecast that Fortive will post 2.97 EPS for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 22nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 22nd. Fortive’s payout ratio is currently 14.37%.

Fortive declared that its Board of Directors has initiated a share buyback program on Monday, May 4th that permits the company to repurchase 20,000,000 outstanding shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin?off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin?off of Vontier, concentrating Fortive’s activities on higher?margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software?enabled solutions, and lifecycle services that support industrial and commercial customers.