Fortive (NYSE:FTV) Receives “Hold” Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their hold rating on shares of Fortive (NYSE:FTV) in a report issued on Sunday, AnalystRatings.com reports. They currently have a $77.00 target price on the technology company’s stock.

Several other research firms have also issued reports on FTV. Raymond James set a $84.00 price target on Fortive and gave the stock an outperform rating in a research report on Friday, July 26th. Citigroup lowered their price target on Fortive from $86.00 to $76.00 and set a neutral rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada set a $73.00 price target on Fortive and gave the stock a hold rating in a research report on Friday, October 25th. Zacks Investment Research raised Fortive from a sell rating to a hold rating and set a $72.00 price target for the company in a research report on Tuesday, October 1st. Finally, Credit Suisse Group lifted their price target on Fortive from $73.00 to $75.00 and gave the stock a neutral rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. Fortive currently has an average rating of Hold and a consensus price target of $77.77.

Shares of FTV traded down $0.48 during trading hours on Friday, hitting $71.15. The company had a trading volume of 1,242,200 shares, compared to its average volume of 1,720,572. The firm has a fifty day moving average price of $69.65 and a 200-day moving average price of $74.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.96 and a current ratio of 1.19. The stock has a market capitalization of $23.89 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 2.59 and a beta of 1.21. Fortive has a 52-week low of $62.89 and a 52-week high of $89.48.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, October 24th. The technology company reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortive had a return on equity of 17.41% and a net margin of 37.57%. Fortive’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. Research analysts anticipate that Fortive will post 3.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Wednesday, November 27th. Fortive’s dividend payout ratio (DPR) is 9.15%.

In other Fortive news, SVP Martin Gafinowitz sold 30,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $71.27, for a total value of $2,138,100.00. Following the completion of the transaction, the senior vice president now owns 101,169 shares of the company’s stock, valued at approximately $7,210,314.63. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.70% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Rational Advisors LLC bought a new stake in shares of Fortive during the 2nd quarter valued at about $33,000. Kavar Capital Partners LLC bought a new stake in shares of Fortive during the 2nd quarter valued at about $37,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Fortive during the 2nd quarter valued at about $41,000. Kings Point Capital Management bought a new stake in shares of Fortive during the 2nd quarter valued at about $41,000. Finally, CSat Investment Advisory L.P. grew its stake in shares of Fortive by 342.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 673 shares of the technology company’s stock valued at $55,000 after purchasing an additional 521 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Fortive Company Profile

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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