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

Fortive (NYSE:FTV) had its price target raised by Wells Fargo & Company from $80.00 to $85.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. Truist Financial lifted their price target 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. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Royal Bank of Canada reduced their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and lowered their target price for the company from $92.00 to $86.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

Fortive Stock Up 1.8 %

FTV opened at $80.54 on Monday. Fortive has a 52 week low of $66.15 and a 52 week high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm has a 50-day simple moving average of $77.65 and a two-hundred day simple moving average of $75.40. The company has a market capitalization of $27.94 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTV) last posted its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.98 earnings per share. Analysts forecast that Fortive will post 3.84 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is 13.56%.

Hedge Funds Weigh In On Fortive

A number of large investors have recently bought and sold shares of FTV. Flossbach Von Storch SE increased its holdings in shares of Fortive by 1.2% in the 4th quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company’s stock valued at $892,743,000 after acquiring an additional 137,479 shares during the period. Geode Capital Management LLC boosted its position in Fortive by 0.6% during the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock valued at $644,346,000 after purchasing an additional 46,704 shares in the last quarter. Janus Henderson Group PLC boosted its position in Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after purchasing an additional 977,428 shares in the last quarter. Mizuho Securities USA LLC grew its stake in Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after purchasing an additional 3,972,855 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Fortive by 3.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock worth $271,851,000 after purchasing an additional 103,530 shares in the last quarter. 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.