Fortive (NYSE:FTV) Downgraded by StockNews.com

StockNews.com lowered shares of Fortive (NYSE:FTV) from a buy rating to a hold rating in a report issued on Wednesday morning.

FTV has been the subject of several other research reports. Royal Bank of Canada cut their price target on Fortive from $93.00 to $83.00 and set a sector perform rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. downgraded shares of Fortive from an overweight rating to a neutral rating and reduced their target price for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Wells Fargo & Company lowered their price target on shares of Fortive from $92.00 to $84.00 and set an equal weight rating on the stock in a report on Thursday, April 25th. Mizuho raised their price objective on shares of Fortive from $70.00 to $80.00 and gave the stock a neutral rating in a research report on Thursday, February 1st. Finally, Barclays upped their target price on Fortive from $89.00 to $97.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Fortive presently has an average rating of Hold and an average price target of $86.46.

Fortive Stock Down 0.0 %

Fortive stock opened at $76.08 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. The company’s 50-day moving average is $83.14 and its 200-day moving average is $76.14. The firm has a market capitalization of $26.78 billion, a PE ratio of 30.07, a P/E/G ratio of 2.22 and a beta of 1.15. Fortive has a fifty-two week low of $63.05 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Sell-side analysts anticipate that Fortive will post 3.81 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a $0.08 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s dividend payout ratio is presently 12.65%.

Insider Transactions at Fortive

In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the transaction, the chief financial officer now owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction on Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following the transaction, the chief accounting officer now owns 20,564 shares in the company, valued at approximately $1,689,743.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the sale, the chief financial officer now directly owns 61,855 shares in the company, valued at $5,336,849.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. abrdn plc grew its position in Fortive by 2.9% during the 3rd quarter. abrdn plc now owns 165,769 shares of the technology company’s stock worth $12,293,000 after acquiring an additional 4,660 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Fortive by 34.2% in the fourth quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company’s stock valued at $38,828,000 after buying an additional 134,259 shares during the period. Ferguson Wellman Capital Management Inc. raised its holdings in Fortive by 4.5% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock valued at $61,326,000 after buying an additional 35,688 shares during the last quarter. NewEdge Wealth LLC raised its holdings in Fortive by 12.4% in the 4th quarter. NewEdge Wealth LLC now owns 4,816 shares of the technology company’s stock valued at $355,000 after buying an additional 531 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Fortive by 111.7% during the 4th quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company’s stock worth $86,637,000 after buying an additional 620,866 shares during the period. Institutional investors 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.