SunTrust Banks, Inc. Reiterates “Buy” Rating for Fortive Corporation (FTV)

Fortive Corporation (NYSE:FTV)‘s stock had its “buy” rating reiterated by equities research analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Friday. They presently have a $81.00 price target on the technology company’s stock. SunTrust Banks, Inc.’s price target would indicate a potential upside of 9.31% from the company’s previous close. SunTrust Banks also issued estimates for Fortive Corporation’s Q4 2017 earnings at $0.77 EPS, FY2017 earnings at $2.85 EPS, Q1 2018 earnings at $0.71 EPS, Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $3.19 EPS, Q1 2019 earnings at $0.76 EPS, Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $0.91 EPS and FY2019 earnings at $3.46 EPS.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Tuesday, September 19th. Morgan Stanley reissued an “equal weight” rating and set a $72.00 price objective (up previously from $71.00) on shares of Fortive Corporation in a research report on Monday, October 2nd. Royal Bank Of Canada reissued a “hold” rating and set a $66.00 price objective on shares of Fortive Corporation in a research report on Friday, September 15th. Stifel Nicolaus reissued a “hold” rating and set a $62.00 price objective on shares of Fortive Corporation in a research report on Sunday, July 30th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $72.00 price objective (up previously from $65.00) on shares of Fortive Corporation in a research report on Monday, October 9th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $69.10.

Shares of Fortive Corporation (NYSE:FTV) traded up 0.86% during mid-day trading on Friday, reaching $74.10. 2,011,623 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $70.93 and a 200 day moving average of $65.52. Fortive Corporation has a one year low of $49.73 and a one year high of $74.38. The firm has a market capitalization of $25.75 billion, a P/E ratio of 27.96 and a beta of 0.39.

Fortive Corporation (NYSE:FTV) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.66 billion. Fortive Corporation had a return on equity of 33.18% and a net margin of 14.39%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. On average, analysts forecast that Fortive Corporation will post $2.80 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This story was originally published by Community Financial News and is the sole property of of Community Financial News. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://www.com-unik.info/2017/10/29/suntrust-banks-inc-reiterates-buy-rating-for-fortive-corporation-ftv.html.

In other 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 document filed with the Securities & Exchange Commission, which is available at this link. 12.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Fortive Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock worth $1,305,909,000 after purchasing an additional 620,784 shares during the period. BlackRock Inc. increased its position in shares of Fortive Corporation by 11.7% during the second quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock worth $1,171,255,000 after acquiring an additional 1,934,309 shares in the last quarter. State Street Corp increased its position in shares of Fortive Corporation by 1.4% during the first quarter. State Street Corp now owns 12,557,670 shares of the technology company’s stock worth $756,215,000 after acquiring an additional 174,619 shares in the last quarter. Capital World Investors increased its position in shares of Fortive Corporation by 37.9% during the second quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock worth $622,996,000 after acquiring an additional 2,701,496 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Fortive Corporation by 41.2% during the second quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock worth $210,997,000 after acquiring an additional 971,997 shares in the last quarter. Institutional investors own 78.55% of the company’s stock.

Fortive Corporation Company Profile

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