Truist Financial Lowers Fortive (NYSE:FTV) Price Target to $56.00

Fortive (NYSE:FTV) had its target price cut by equities researchers at Truist Financial from $57.00 to $56.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Truist Financial’s price target indicates a potential downside of 7.48% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Barclays lifted their price objective on Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a research note on Monday, February 9th. Wells Fargo & Company lowered their target price on Fortive from $65.00 to $58.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Mizuho reissued an “underperform” rating and set a $51.00 target price (down from $54.00) on shares of Fortive in a research note on Monday, January 5th. Morgan Stanley boosted their target price on Fortive from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. boosted their target price on Fortive from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Fortive currently has a consensus rating of “Hold” and a consensus price target of $60.00.

Fortive Trading Up 0.0%

Shares of NYSE FTV opened at $60.53 on Monday. Fortive has a twelve month low of $46.34 and a twelve month high of $74.67. The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $57.17 and a 200-day simple moving average of $54.40. The stock has a market capitalization of $18.63 billion, a PE ratio of 34.99, a PEG ratio of 3.27 and a beta of 1.09.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, equities analysts forecast that Fortive will post 4.05 earnings per share for the current year.

Insider Activity

In other news, Director Kate Mitchell sold 7,131 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $58.34, for a total transaction of $416,022.54. Following the completion of the transaction, the director directly owned 31,775 shares of the company’s stock, valued at approximately $1,853,753.50. This represents a 18.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its position in shares of Fortive by 3.1% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 22,639 shares of the technology company’s stock worth $1,251,000 after acquiring an additional 684 shares in the last quarter. Brookstone Capital Management boosted its position in shares of Fortive by 4.5% during the 1st quarter. Brookstone Capital Management now owns 75,091 shares of the technology company’s stock worth $4,151,000 after acquiring an additional 3,233 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Fortive by 117.0% during the 1st quarter. SG Americas Securities LLC now owns 378,363 shares of the technology company’s stock worth $20,916,000 after acquiring an additional 203,977 shares in the last quarter. Park National Corp OH acquired a new position in shares of Fortive during the 1st quarter worth about $62,000. Finally, Hsbc Holdings PLC boosted its position in shares of Fortive by 7.0% during the 4th quarter. Hsbc Holdings PLC now owns 2,026,810 shares of the technology company’s stock worth $112,066,000 after acquiring an additional 133,447 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.