Fortive (NYSE:FTV) Given New $96.00 Price Target at Barclays

Fortive (NYSE:FTV) had its target price increased by Barclays from $94.00 to $96.00 in a research note published on Thursday, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also commented on FTV. Raymond James raised Fortive from a market perform rating to an outperform rating and set a $85.00 price target on the stock in a report on Thursday, September 5th. Royal Bank of Canada reaffirmed a sector perform rating and set a $77.00 target price on shares of Fortive in a research note on Friday, September 6th. Wolfe Research cut Fortive from an outperform rating to a peer perform rating in a research note on Friday, September 6th. Truist Financial decreased their target price on Fortive from $89.00 to $82.00 and set a buy rating for the company in a research note on Thursday, July 25th. Finally, Mizuho raised Fortive from a neutral rating to an outperform rating and raised their target price for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Fortive currently has a consensus rating of Moderate Buy and a consensus price target of $86.38.

Fortive Stock Performance

Shares of FTV opened at $79.20 on Thursday. Fortive has a 12-month low of $63.05 and a 12-month high of $87.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The business’s fifty day moving average price is $72.46 and its 200 day moving average price is $75.84. The stock has a market capitalization of $27.88 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11.

Fortive (NYSE:FTV) last issued its earnings results 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 return on equity of 12.32% and a net margin of 14.39%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts forecast that Fortive will post 3.82 EPS for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s payout ratio is presently 12.65%.

Insiders Place Their Bets

In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FTV. Janus Henderson Group PLC raised its stake in shares of Fortive by 47.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after acquiring an additional 1,999,792 shares in the last quarter. Boston Partners raised its stake in shares of Fortive by 19.3% in the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after acquiring an additional 1,045,245 shares in the last quarter. Kodai Capital Management LP bought a new position in shares of Fortive in the 4th quarter valued at approximately $45,557,000. The Manufacturers Life Insurance Company raised its stake in shares of Fortive by 78.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock valued at $63,221,000 after acquiring an additional 373,957 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Fortive by 70.1% in the 1st quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock valued at $77,058,000 after acquiring an additional 369,351 shares in the last quarter. 94.94% of the stock is 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.