Fortive (NYSE:FTV) Coverage Initiated at Rosenblatt Securities

Rosenblatt Securities began coverage on shares of Fortive (NYSE:FTV) in a research report report published on Thursday, The Fly reports. The brokerage issued a neutral rating and a $77.00 price objective on the technology company’s stock.

Several other research firms also recently issued reports on FTV. Credit Suisse Group boosted their price target on Fortive from $73.00 to $75.00 and gave the company a neutral rating in a research note on Friday, October 25th. Raymond James set a $84.00 price target on Fortive and gave the company an outperform rating in a research note on Friday, July 26th. Royal Bank of Canada set a $73.00 price target on Fortive and gave the company a hold rating in a research note on Friday, October 25th. Barclays reduced their price target on Fortive from $84.00 to $82.00 and set an overweight rating for the company in a research note on Friday, October 25th. Finally, Citigroup reduced their price target on Fortive from $86.00 to $76.00 and set a neutral rating for the company in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $78.25.

Shares of FTV stock traded up $0.59 during trading on Thursday, reaching $72.88. 852,302 shares of the company’s stock were exchanged, compared to its average volume of 1,727,824. The company has a quick ratio of 0.96, a current ratio of 1.19 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $24.68 billion, a PE ratio of 23.82, a PEG ratio of 2.68 and a beta of 1.21. Fortive has a twelve month low of $62.89 and a twelve month high of $89.48. The firm’s fifty day moving average price is $68.97 and its 200-day moving average price is $75.10.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, October 24th. The technology company reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. The business had revenue of $1.86 billion for 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%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. As a group, analysts anticipate that Fortive will post 3.45 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its position in shares of Fortive by 47.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,759,436 shares of the technology company’s stock valued at $531,987,000 after acquiring an additional 2,490,746 shares during the period. Northern Trust Corp lifted its position in shares of Fortive by 0.7% during the 2nd quarter. Northern Trust Corp now owns 4,346,853 shares of the technology company’s stock valued at $354,356,000 after acquiring an additional 28,760 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Fortive by 23,241.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,906,599 shares of the technology company’s stock valued at $318,466,000 after acquiring an additional 3,889,862 shares during the period. Winslow Capital Management LLC lifted its position in shares of Fortive by 7.7% during the 2nd quarter. Winslow Capital Management LLC now owns 2,398,305 shares of the technology company’s stock valued at $195,509,000 after acquiring an additional 171,237 shares during the period. Finally, Schroder Investment Management Group lifted its position in shares of Fortive by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 2,232,096 shares of the technology company’s stock valued at $181,961,000 after acquiring an additional 287,449 shares during the period. Hedge funds and other institutional investors own 82.75% of the company’s stock.

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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