Fortive (NYSE:FTV) Price Target Raised to $85.00 at Wells Fargo & Company

Fortive (NYSE:FTV) had its price target increased by stock analysts at Wells Fargo & Company from $80.00 to $85.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 6.07% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Argus reissued a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Barclays decreased their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Truist Financial boosted their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada decreased their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average price target of $87.64.

Fortive Trading Down 0.5 %

Shares of NYSE:FTV opened at $80.14 on Monday. The firm has a market cap of $27.80 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 2.14 and a beta of 1.15. Fortive has a 12 month low of $66.15 and a 12 month high of $87.10. The company’s fifty day simple moving average is $77.69 and its 200 day simple moving average is $75.47. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last released its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same period in the prior year, the business posted $0.98 EPS. As a group, research analysts forecast that Fortive will post 3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Fortive

A number of institutional investors have recently bought and sold shares of FTV. Capital Performance Advisors LLP bought a new position in shares of Fortive during the 3rd quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new stake in Fortive during the 4th quarter valued at $31,000. Versant Capital Management Inc boosted its position in Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares during the period. Crews Bank & Trust bought a new position in Fortive during the fourth quarter worth $37,000. Finally, Albion Financial Group UT acquired a new position in shares of Fortive in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.