Fortive (FTV) – Investment Analysts’ Weekly Ratings Updates

Posted by Anthony Miller on Nov 14th, 2024

A number of firms have modified their ratings and price targets on shares of Fortive (NYSE: FTV) recently:

11/13/2024 – Fortive is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $84.00 price target on the stock.
11/1/2024 – Fortive had its price target lowered by analysts at Truist Financial Co. from $90.00 to $89.00. They now have a “buy” rating on the stock.
10/31/2024 – Fortive had its price target lowered by analysts at Royal Bank of Canada from $85.00 to $77.00. They now have a “sector perform” rating on the stock.
10/31/2024 – Fortive had its price target lowered by analysts at Barclays PLC from $98.00 to $95.00. They now have an “overweight” rating on the stock.
10/31/2024 – Fortive had its price target lowered by analysts at Wells Fargo & Company from $82.00 to $77.00. They now have an “equal weight” rating on the stock.
10/10/2024 – Fortive was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $92.00 price target on the stock, up previously from $90.00.
10/9/2024 – Fortive had its price target raised by analysts at Truist Financial Co. from $82.00 to $90.00. They now have a “buy” rating on the stock.
10/7/2024 – Fortive had its price target raised by analysts at Wells Fargo & Company from $75.00 to $82.00. They now have an “equal weight” rating on the stock.
10/2/2024 – Fortive had its price target raised by analysts at Barclays PLC from $96.00 to $98.00. They now have an “overweight” rating on the stock.
9/26/2024 – Fortive had its price target raised by analysts at Barclays PLC from $94.00 to $96.00. They now have an “overweight” rating on the stock.

Fortive Stock Performance

FTV traded down $0.57 on Thursday, hitting $75.62. 3,087,095 shares of the company’s stock were exchanged, compared to its average volume of 1,969,389. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average of $75.39 and a two-hundred day moving average of $74.18. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The firm has a market cap of $26.24 billion, a PE ratio of 30.13, a P/E/G ratio of 2.06 and a beta of 1.13.

Fortive (NYSE:FTV – Get Free Report) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.85 earnings per share. On average, research analysts anticipate that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, November 29th. Fortive’s payout ratio is currently 12.75%.

Insider Buying and Selling at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. The trade was a 8.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 197,895 shares of company stock valued at $14,261,051. 1.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Fortive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTV. Mizuho Securities USA LLC grew its holdings in Fortive by 14,635.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after buying an additional 3,972,855 shares during the last quarter. Janus Henderson Group PLC increased its position in Fortive by 47.1% during the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after acquiring an additional 1,999,792 shares during the period. Boston Partners raised its stake in Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after purchasing an additional 1,045,245 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Fortive by 59.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after purchasing an additional 505,882 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Fortive by 78.0% during the second quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock valued at $63,221,000 after buying an additional 373,957 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.