Fortive Corp (NYSE:FTV) – Stock analysts at SunTrust Banks raised their FY2018 EPS estimates for shares of Fortive in a report released on Tuesday. SunTrust Banks analyst C. Brady now anticipates that the technology company will earn $3.51 per share for the year, up from their prior forecast of $3.19. SunTrust Banks has a “Buy” rating and a $81.00 price target on the stock. SunTrust Banks also issued estimates for Fortive’s FY2019 earnings at $3.80 EPS.
Other equities research analysts have also recently issued reports about the stock. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Tuesday, September 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $72.00 price target (up from $71.00) on shares of Fortive in a research report on Monday, October 2nd. ValuEngine cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $66.00 price target on shares of Fortive in a research report on Friday, September 15th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $71.45.
Fortive (NYSE:FTV) traded up $0.76 on Thursday, hitting $74.47. 1,280,000 shares of the company traded hands, compared to its average volume of 1,110,000. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54. Fortive has a twelve month low of $53.36 and a twelve month high of $75.69. The firm has a market capitalization of $25,880.00 and a PE ratio of 28.10.
Fortive (NYSE:FTV) last released its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the company earned $0.65 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, November 24th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. Fortive’s dividend payout ratio (DPR) is 10.57%.
In other news, insider James A. Lico sold 50,000 shares of Fortive stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the sale, the insider now owns 166,014 shares in the company, valued at $12,142,263.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacey A. Walker sold 4,775 shares of Fortive stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of FTV. Federated Investors Inc. PA raised its stake in shares of Fortive by 185.2% during the second quarter. Federated Investors Inc. PA now owns 8,330 shares of the technology company’s stock valued at $528,000 after purchasing an additional 5,409 shares during the period. Commonwealth Bank of Australia raised its stake in shares of Fortive by 15.6% during the second quarter. Commonwealth Bank of Australia now owns 10,022 shares of the technology company’s stock valued at $634,000 after purchasing an additional 1,350 shares during the period. Aberdeen Asset Management PLC UK raised its stake in shares of Fortive by 6.9% during the second quarter. Aberdeen Asset Management PLC UK now owns 71,496 shares of the technology company’s stock valued at $4,530,000 after purchasing an additional 4,606 shares during the period. Seven Eight Capital LP raised its stake in shares of Fortive by 23.7% during the second quarter. Seven Eight Capital LP now owns 42,731 shares of the technology company’s stock valued at $2,707,000 after purchasing an additional 8,200 shares during the period. Finally, Teachers Advisors LLC raised its stake in shares of Fortive by 11.1% during the second quarter. Teachers Advisors LLC now owns 1,889,724 shares of the technology company’s stock valued at $119,714,000 after purchasing an additional 188,907 shares during the period. Institutional investors own 78.75% of the company’s stock.
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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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