Royal Bank Of Canada Reaffirms “Sector Perform” Rating for Fortive Corporation (FTV)

Fortive Corporation (NYSE:FTV)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank Of Canada in a note issued to investors on Sunday, July 30th. They presently have a $66.00 target price on the technology company’s stock, up from their prior target price of $65.00. Royal Bank Of Canada’s target price would indicate a potential upside of 1.49% from the company’s previous close.

Several other equities analysts have also commented on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $62.00 price target on shares of Fortive Corporation in a research report on Sunday, July 30th. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Monday, July 24th. Barclays PLC set a $66.00 price target on shares of Fortive Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a research report on Monday, May 22nd. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.82.

Fortive Corporation (FTV) traded down 0.20% during mid-day trading on Friday, reaching $65.03. 963,478 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $64.70 and its 200 day moving average is $61.61. Fortive Corporation has a 1-year low of $46.81 and a 1-year high of $67.48. The stock has a market capitalization of $22.57 billion, a PE ratio of 25.61 and a beta of 0.23.

Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Analysts forecast that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was published by Community Financial News and is the property of of Community Financial News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.com-unik.info/2017/08/19/royal-bank-of-canada-reaffirms-sector-perform-rating-for-fortive-corporation-ftv-updated-updated.html.

In other Fortive Corporation news, VP Emily A. Weaver sold 3,749 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total transaction of $233,450.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,565 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The disclosure for this sale can be found here. Insiders sold 21,956 shares of company stock valued at $1,392,744 over the last 90 days. Insiders own 12.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of FTV. Hutchens Investment Management Inc increased its position in Fortive Corporation by 132.6% in the first quarter. Hutchens Investment Management Inc now owns 30,397 shares of the technology company’s stock worth $1,830,000 after buying an additional 17,331 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in Fortive Corporation by 93.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,600 shares of the technology company’s stock worth $3,050,000 after buying an additional 24,500 shares during the period. Integrated Investment Consultants LLC increased its position in Fortive Corporation by 201.4% in the first quarter. Integrated Investment Consultants LLC now owns 2,670 shares of the technology company’s stock worth $161,000 after buying an additional 1,784 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in Fortive Corporation by 76.2% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 60,850 shares of the technology company’s stock worth $3,664,000 after buying an additional 26,311 shares during the period. Finally, Nexus Investment Management Inc. increased its position in Fortive Corporation by 8.6% in the first quarter. Nexus Investment Management Inc. now owns 13,000 shares of the technology company’s stock worth $783,000 after buying an additional 1,025 shares during the period. Hedge funds and other institutional investors own 78.55% of the company’s stock.

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.

Analyst Recommendations for Fortive Corporation (NYSE:FTV)

What are top analysts saying about Fortive Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Fortive Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit