Fortive Corp (NYSE:FTV) Receives $84.55 Consensus Target Price from Brokerages

Fortive Corp (NYSE:FTV) has received an average recommendation of “Hold” from the seventeen research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $84.55.

A number of research firms have recently weighed in on FTV. Barclays upped their price objective on Stanley Black & Decker from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a GBX 2,280 ($29.79) price objective on shares of Anglo American in a research note on Wednesday, May 8th. Cowen reaffirmed a “buy” rating on shares of Odonate Therapeutics in a research note on Monday, June 3rd. Argus reaffirmed a “buy” rating and issued a $215.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, April 30th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 150 ($1.96) price objective on shares of Tharisa in a research note on Wednesday, May 15th.

In other Fortive news, insider Martin Gafinowitz sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $81.74, for a total transaction of $1,634,800.00. Following the sale, the insider now directly owns 91,688 shares in the company, valued at $7,494,577.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Emily A. Weaver sold 519 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $80.98, for a total value of $42,028.62. Following the sale, the vice president now owns 8,627 shares in the company, valued at $698,614.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,155 shares of company stock worth $2,761,762. Company insiders own 12.70% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Kentucky Retirement Systems purchased a new stake in shares of Fortive in the fourth quarter worth approximately $865,000. Resource Management LLC purchased a new stake in shares of Fortive in the first quarter worth approximately $201,000. Banyan Capital Management Inc. purchased a new stake in shares of Fortive in the first quarter worth approximately $1,197,000. Pratt Collard Advisory Partners LLC purchased a new stake in shares of Fortive in the first quarter worth approximately $205,000. Finally, Deutsche Bank AG raised its holdings in shares of Fortive by 79.0% in the fourth quarter. Deutsche Bank AG now owns 827,194 shares of the technology company’s stock worth $55,963,000 after buying an additional 365,059 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Shares of NYSE FTV traded up $1.53 during mid-day trading on Friday, reaching $81.23. The company’s stock had a trading volume of 33,273 shares, compared to its average volume of 1,500,598. The company has a market cap of $27.15 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.71 and a beta of 1.20. The company has a quick ratio of 1.97, a current ratio of 2.20 and a debt-to-equity ratio of 0.69. The firm’s fifty day simple moving average is $79.17. Fortive has a 52 week low of $62.89 and a 52 week high of $89.48.

Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.69 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.69. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.63 billion. Fortive had a return on equity of 19.44% and a net margin of 39.98%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. As a group, equities research analysts anticipate that Fortive will post 3.58 EPS for the current fiscal year.

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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