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.
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.
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