Fortive (NYSE:FTV) Research Coverage Started at Morgan Stanley

Morgan Stanley initiated coverage on shares of Fortive (NYSE:FTV) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm issued an overweight rating and a $89.00 price target on the technology company’s stock.

FTV has been the subject of several other reports. Wolfe Research downgraded shares of Fortive from an outperform rating to a peer perform rating in a report on Friday. Raymond James raised shares of Fortive from a market perform rating to an outperform rating and set a $85.00 price objective for the company in a research note on Thursday. Truist Financial reduced their target price on Fortive from $89.00 to $82.00 and set a buy rating on the stock in a research note on Thursday, July 25th. Wells Fargo & Company dropped their price target on Fortive from $84.00 to $75.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Finally, Barclays reduced their price objective on Fortive from $93.00 to $91.00 and set an overweight rating on the stock in a research report on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $86.23.

Fortive Price Performance

FTV stock opened at $70.67 on Friday. The company has a market cap of $24.88 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 2.17 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $72.23 and a 200-day moving average of $77.01. Fortive has a 12-month low of $63.05 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the business earned $0.85 earnings per share. Fortive’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that Fortive will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is currently 12.65%.

Hedge Funds Weigh In On Fortive

Several hedge funds and other institutional investors have recently modified their holdings of FTV. Indiana Trust & Investment Management CO acquired a new position in Fortive during the 1st quarter worth approximately $26,000. Advisors Asset Management Inc. purchased a new stake in shares of Fortive during the first quarter valued at approximately $32,000. Ridgewood Investments LLC acquired a new position in shares of Fortive during the second quarter worth $30,000. International Assets Investment Management LLC purchased a new position in shares of Fortive in the second quarter valued at $30,000. Finally, Goodman Advisory Group LLC acquired a new stake in Fortive during the 2nd quarter valued at $31,000. 94.94% of the stock is owned by institutional investors and hedge funds.

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.