Fortive (NYSE:FTV) Price Target Raised to $53.00

Fortive (NYSE:FTV) had its price target increased by Morgan Stanley from $50.00 to $53.00 in a research note released on Wednesday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other brokerages also recently issued reports on FTV. Mizuho decreased their price target on Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Zacks Research raised Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Wall Street Zen upgraded Fortive to a “hold” rating in a research note on Friday, September 5th. Robert W. Baird upped their price target on Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Melius Research upgraded shares of Fortive to a “hold” rating in a research note on Tuesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.29.

Fortive Trading Up 0.3%

Shares of NYSE:FTV opened at $51.22 on Wednesday. Fortive has a 52 week low of $46.34 and a 52 week high of $83.32. The company’s 50 day moving average is $49.06 and its two-hundred day moving average is $56.58. The company has a market cap of $16.27 billion, a PE ratio of 29.27, a P/E/G ratio of 3.08 and a beta of 1.16. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last released its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. The business had revenue of $1.07 billion during the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. Equities analysts predict that Fortive will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, November 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Fortive’s dividend payout ratio is 13.71%.

Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the transaction, the senior vice president owned 59,488 shares in the company, valued at $2,995,220.80. The trade was a 3.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. True Wealth Design LLC increased its holdings in shares of Fortive by 815.4% in the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after purchasing an additional 424 shares during the period. Accent Capital Management LLC acquired a new stake in shares of Fortive during the first quarter worth $26,000. Quent Capital LLC purchased a new position in Fortive in the 3rd quarter valued at $28,000. Exchange Traded Concepts LLC increased its stake in Fortive by 46.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after buying an additional 236 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after buying an additional 357 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.