Barclays Has Lowered Expectations for Fortive (NYSE:FTV) Stock Price

Fortive (NYSE:FTV) had its price objective cut by Barclays from $90.00 to $85.00 in a research report report published on Wednesday morning, Marketbeat reports. They currently have an overweight rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on FTV. Wells Fargo & Company lifted their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Truist Financial upped their target price on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Royal Bank of Canada upped their price objective on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.18.

Fortive Stock Performance

FTV opened at $75.17 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The firm has a market cap of $25.58 billion, a PE ratio of 31.85, a P/E/G ratio of 2.68 and a beta of 1.16. The business has a fifty day simple moving average of $78.56 and a 200-day simple moving average of $76.95. Fortive has a fifty-two week low of $66.15 and a fifty-two week high of $86.21.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter in the prior year, the firm posted $0.98 EPS. As a group, equities analysts predict that Fortive will post 4.05 EPS 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 $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio is presently 13.56%.

Insider Buying and Selling at Fortive

In related news, SVP Stacey A. Walker sold 5,688 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the transaction, the senior vice president now directly owns 47,141 shares in the company, valued at approximately $3,795,793.32. This trade represents a 10.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Christopher M. Mulhall sold 6,493 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total transaction of $519,115.35. Following the transaction, the chief accounting officer now directly owns 24,283 shares of the company’s stock, valued at approximately $1,941,425.85. This represents a 21.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock worth $19,508,529 over the last three months. Corporate insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in shares of Fortive by 2.4% during the 4th quarter. California State Teachers Retirement System now owns 617,213 shares of the technology company’s stock worth $46,291,000 after purchasing an additional 14,296 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Fortive during the fourth quarter worth about $8,430,000. Dogwood Wealth Management LLC increased its stake in Fortive by 11.6% during the fourth quarter. Dogwood Wealth Management LLC now owns 7,383 shares of the technology company’s stock valued at $554,000 after acquiring an additional 768 shares during the period. Park Square Financial Group LLC acquired a new position in Fortive in the 4th quarter valued at approximately $30,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Fortive in the 4th quarter worth approximately $42,686,000. 94.94% of the stock is owned by institutional investors.

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.