Wells Fargo & Company Increases Fortive (NYSE:FTV) Price Target to $82.00

Fortive (NYSE:FTV) had its target price boosted by analysts at Wells Fargo & Company from $75.00 to $82.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.27% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $90.00 in a report on Monday, July 8th. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $90.00 in a report on Friday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 price objective on shares of Fortive in a report on Friday, September 6th. Finally, Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average price target of $86.75.

Fortive Trading Up 0.2 %

FTV opened at $76.44 on Monday. Fortive has a twelve month low of $63.05 and a twelve month high of $87.10. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average of $73.02 and a 200-day moving average of $75.49. The stock has a market cap of $26.91 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the company posted $0.85 earnings per share. Fortive’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Fortive will post 3.82 EPS for the current year.

Insider Transactions at Fortive

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Lipe & Dalton increased its stake in shares of Fortive by 1.9% in the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after acquiring an additional 130 shares in the last quarter. RDA Financial Network increased its stake in Fortive by 3.4% during the 2nd quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock valued at $311,000 after purchasing an additional 138 shares in the last quarter. Pitcairn Co. increased its stake in Fortive by 1.3% during the 1st quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after purchasing an additional 139 shares in the last quarter. QRG Capital Management Inc. increased its stake in Fortive by 0.8% during the 2nd quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock valued at $1,371,000 after purchasing an additional 146 shares in the last quarter. Finally, Andina Capital Management LLC increased its stake in Fortive by 3.4% during the 2nd quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock valued at $328,000 after purchasing an additional 147 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

About Fortive

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.