Fortive (NYSE:FTV) Earns “Hold” Rating from Argus

Argus reiterated their hold rating on shares of Fortive (NYSE:FTV) in a research report sent to investors on Monday, MarketBeat.com reports.

FTV has been the subject of a number of other reports. Truist Financial dropped their price target on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada lowered their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a report on Thursday, September 5th. Wells Fargo & Company decreased their price target on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.82.

Fortive Trading Down 0.3 %

Shares of FTV opened at $74.61 on Monday. The firm has a market cap of $25.89 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10. The company has a 50 day simple moving average of $75.58 and a two-hundred day simple moving average of $74.15.

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

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Insider Buying and Selling at Fortive

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Mizuho Securities USA LLC increased its position in shares of 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 acquiring an additional 3,972,855 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of 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 purchasing an additional 1,999,792 shares during the period. Point72 Asset Management L.P. boosted its position in Fortive by 1,005.9% in the third quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock valued at $152,899,000 after buying an additional 1,761,983 shares during the last quarter. Boston Partners boosted its position in Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after buying an additional 1,045,245 shares during the last quarter. Finally, Holocene Advisors LP increased its holdings in Fortive by 1,014.1% in the 3rd quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock worth $72,984,000 after buying an additional 841,671 shares during the period. Institutional investors own 94.94% of the company’s stock.

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.