Fortive (NYSE:FTV) Stock Rating Lowered by StockNews.com

Fortive (NYSE:FTV) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other analysts also recently issued reports on the stock. Truist Financial raised their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and cut their price objective for the company from $92.00 to $86.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Raymond James upgraded shares of 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $86.82.

Fortive Trading Down 0.8 %

FTV stock opened at $74.41 on Wednesday. The firm has a fifty day moving average price of $75.86 and a 200 day moving average price of $74.52. Fortive has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The firm has a market cap of $25.82 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The business 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%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. Sell-side analysts anticipate that Fortive will post 3.85 earnings per share for the current fiscal year.

Insider Activity

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On Fortive

A number of hedge funds and other institutional investors have recently bought and sold shares of FTV. Capital Performance Advisors LLP acquired a new position in shares of Fortive during the third quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in Fortive in the second quarter valued at about $30,000. Goodman Advisory Group LLC purchased a new stake in Fortive in the second quarter valued at about $31,000. Pinnacle Bancorp Inc. boosted its holdings in Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after acquiring an additional 176 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Fortive during the second quarter worth about $35,000. Hedge funds and other 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.