Raymond James Lowers Fortive (NYSE:FTV) to Market Perform

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Raymond James downgraded shares of Fortive (NYSE:FTV) from an outperform rating to a market perform rating in a research report released on Tuesday, Benzinga reports.

FTV has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Fortive from a hold rating to a buy rating and set a $81.00 price objective for the company in a research note on Friday, January 3rd. Argus lowered shares of Fortive from a buy rating to a hold rating in a research note on Monday, October 28th. Credit Suisse Group upgraded shares of Fortive from a neutral rating to an outperform rating and set a $82.00 price target for the company in a research note on Monday, December 9th. Rosenblatt Securities reiterated a hold rating and issued a $77.00 price target on shares of Fortive in a research note on Monday, February 3rd. Finally, Citigroup upgraded shares of Fortive from a neutral rating to a buy rating and lifted their price target for the stock from $76.00 to $84.00 in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $81.85.

NYSE:FTV opened at $77.81 on Tuesday. The firm has a market cap of $25.94 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 1.06. Fortive has a fifty-two week low of $63.51 and a fifty-two week high of $89.48. The firm has a 50-day simple moving average of $77.29 and a two-hundred day simple moving average of $72.46.

Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, February 6th. The technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.95 billion. Fortive had a net margin of 10.09% and a return on equity of 17.53%. Fortive’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. On average, equities research analysts predict that Fortive will post 3.75 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, February 28th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. Fortive’s dividend payout ratio is presently 8.05%.

Several hedge funds have recently made changes to their positions in FTV. Massachusetts Financial Services Co. MA grew its position in Fortive by 47.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,759,436 shares of the technology company’s stock valued at $531,987,000 after buying an additional 2,490,746 shares during the period. Artisan Partners Limited Partnership grew its position in Fortive by 8.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 7,733,142 shares of the technology company’s stock valued at $590,735,000 after buying an additional 630,445 shares during the period. William Blair Investment Management LLC grew its position in Fortive by 146.8% during the fourth quarter. William Blair Investment Management LLC now owns 889,081 shares of the technology company’s stock valued at $67,917,000 after buying an additional 528,808 shares during the period. Parnassus Investments CA grew its position in Fortive by 37.5% during the fourth quarter. Parnassus Investments CA now owns 1,791,116 shares of the technology company’s stock valued at $136,823,000 after buying an additional 488,818 shares during the period. Finally, Marshall Wace North America L.P. grew its position in Fortive by 39.6% during the fourth quarter. Marshall Wace North America L.P. now owns 1,373,529 shares of the technology company’s stock valued at $104,926,000 after buying an additional 389,541 shares during the period. Hedge funds and other institutional investors own 82.32% of the company’s stock.

About Fortive

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Analyst Recommendations for Fortive (NYSE:FTV)

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