Analysts Set Fortive Corporation (NYSE:FTV) PT at $60.17

Fortive Corporation (NYSE:FTV) has received a consensus rating of “Hold” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $60.00.

FTV has been the topic of a number of research reports. Truist Financial cut their target price on shares of Fortive from $57.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday. Zacks Research raised shares of Fortive from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of Fortive from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Wednesday, February 11th. Royal Bank Of Canada upped their price objective on Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Finally, Barclays lifted their target price on Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday, February 9th.

Insider Buying and Selling at Fortive

In other news, Director Kate Mitchell sold 7,131 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total transaction of $416,022.54. Following the sale, the director directly owned 31,775 shares in the company, valued at $1,853,753.50. This trade represents a 18.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.92% of the stock is currently owned by insiders.

Institutional Trading of Fortive

Institutional investors have recently bought and sold shares of the stock. Dodge & Cox increased its stake in Fortive by 3.7% in the 4th quarter. Dodge & Cox now owns 44,157,822 shares of the technology company’s stock worth $2,437,953,000 after buying an additional 1,562,028 shares during the period. Viking Global Investors LP raised its stake in shares of Fortive by 28.7% during the 3rd quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock worth $1,003,495,000 after acquiring an additional 4,571,056 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Fortive by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock valued at $1,106,760,000 after acquiring an additional 4,532,031 shares in the last quarter. Norges Bank purchased a new stake in Fortive in the fourth quarter valued at about $491,928,000. Finally, Geode Capital Management LLC grew its position in Fortive by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 8,787,747 shares of the technology company’s stock worth $483,327,000 after purchasing an additional 116,939 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Price Performance

Shares of NYSE:FTV opened at $61.52 on Tuesday. The company’s fifty day moving average price is $57.17 and its 200-day moving average price is $54.48. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.58. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 3.27 and a beta of 1.09. Fortive has a one year low of $46.34 and a one year high of $74.67.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, February 4th. The technology company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, equities research analysts anticipate that Fortive will post 2.95 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, March 13th. Fortive’s dividend payout ratio (DPR) is presently 13.87%.

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.