Fortive Corporation (FTV) Stock Rating Reaffirmed by Royal Bank Of Canada

Fortive Corporation (NYSE:FTV)‘s stock had its “hold” rating reiterated by equities researchers at Royal Bank Of Canada in a research note issued to investors on Wednesday. They currently have a $70.00 target price on the technology company’s stock. Royal Bank Of Canada’s price target would suggest a potential downside of 3.96% from the company’s previous close.

Several other research analysts have also commented on the company. Citigroup Inc. reissued a “neutral” rating and issued a $72.00 price objective (up from $65.00) on shares of Fortive Corporation in a research report on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $72.00 price objective (up from $71.00) on shares of Fortive Corporation in a research report on Monday, October 2nd. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Tuesday, September 26th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $62.00 price objective on shares of Fortive Corporation in a research report on Sunday, July 30th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $66.50.

Fortive Corporation (NYSE:FTV) traded down 0.47% during midday trading on Wednesday, hitting $72.55. The company had a trading volume of 233,723 shares. The firm has a market cap of $25.18 billion, a price-to-earnings ratio of 28.57 and a beta of 0.39. The stock has a 50 day moving average of $70.30 and a 200 day moving average of $70.30. Fortive Corporation has a 52-week low of $46.81 and a 52-week high of $73.21.

Fortive Corporation (NYSE:FTV) last issued its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Fortive Corporation will post $2.80 EPS for the current year.

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In related news, CFO Charles E. Mclaughlin sold 6,565 shares of Fortive Corporation stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.10% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Jacobi Capital Management LLC grew its stake in Fortive Corporation by 25.5% in the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock worth $104,000 after purchasing an additional 350 shares in the last quarter. BDO Wealth Advisors LLC acquired a new position in Fortive Corporation in the second quarter valued at approximately $128,000. Westwood Holdings Group Inc. acquired a new position in Fortive Corporation in the second quarter valued at approximately $139,000. Sun Life Financial INC boosted its stake in Fortive Corporation by 21,940.0% in the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock valued at $140,000 after acquiring an additional 2,194 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after acquiring an additional 23 shares during the period. Institutional investors and hedge funds own 78.59% 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.

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