Fortive (NYSE:FTV – Get Free Report) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $63.00 to $64.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 7.11% from the stock’s previous close.
Other research analysts have also recently issued reports about the stock. Zacks Research cut shares of Fortive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Monday. Wells Fargo & Company lifted their target price on shares of Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Royal Bank Of Canada boosted their price target on Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Finally, Morgan Stanley raised their price objective on Fortive from $53.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Fortive presently has a consensus rating of “Hold” and an average target price of $61.54.
Check Out Our Latest Stock Analysis on Fortive
Fortive Stock Down 0.9%
Fortive (NYSE:FTV – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, equities research analysts forecast that Fortive will post 2.95 earnings per share for the current fiscal year.
Fortive declared that its Board of Directors has initiated a stock repurchase program on Monday, May 4th that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
Insider Activity at Fortive
In related news, Director Kate Mitchell sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total value of $416,022.54. Following the completion of the transaction, the director directly owned 31,775 shares in the company, valued at $1,853,753.50. The trade was a 18.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Peter C. Underwood sold 47,557 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $60.81, for a total value of $2,891,941.17. Following the completion of the transaction, the senior vice president directly owned 87,780 shares in the company, valued at $5,337,901.80. This trade represents a 35.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.65% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of FTV. Brighton Jones LLC lifted its holdings in shares of Fortive by 97.1% during the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after purchasing an additional 2,811 shares in the last quarter. Empowered Funds LLC increased its holdings in Fortive by 6.9% in the 1st quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after buying an additional 430 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Fortive by 246.2% in 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. EverSource Wealth Advisors LLC raised its position in Fortive by 87.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock worth $118,000 after buying an additional 1,062 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Fortive by 3.3% during the 2nd quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock valued at $4,201,000 after acquiring an additional 2,548 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.
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.
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