Fortive Co. (NYSE:FTV) Receives Average Recommendation of "Moderate Buy" from Brokerages

Fortive Co. (NYSE:FTV) has received an average rating of "Moderate Buy" from fifteen analysts. Six analysts recommend holding the stock, while nine suggest buying. Recent upgrades include TD Cowen raising its rating from "hold" to "buy" and increasing the price target. Institutional investors own 94.94% of the stock. Fortive's recent quarterly earnings exceeded estimates, with a reported EPS of $0.93. The company also announced a quarterly dividend of $0.08, payable on September 27th, with a yield of 0.43%.

Fortive Co. (NYSE:FTV - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fifteen analysts that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $86.23.

Buying the Dip in Fortive Stock is a Strong Move

Several equities analysts have recently commented on the company. TD Cowen upgraded Fortive from a "hold" rating to a "buy" rating and boosted their price objective for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Morgan Stanley initiated coverage on shares of Fortive in a research report on Friday, September 6th. They set an "overweight" rating and a $89.00 price objective on the stock. Barclays raised their target price on shares of Fortive from $91.00 to $94.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Mizuho upgraded shares of Fortive from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Finally, Wolfe Research cut Fortive from an "outperform" rating to a "peer perform" rating in a report on Friday, September 6th.

Get Our Latest Stock Report on Fortive

Hedge Funds Weigh In On Fortive

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its position in shares of Fortive by 4.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company's stock valued at $201,000 after buying an additional 126 shares during the last quarter. Lipe & Dalton lifted its position in Fortive by 1.9% during the first quarter. Lipe & Dalton now owns 7,096 shares of the technology company's stock valued at $610,000 after acquiring an additional 130 shares during the last quarter. RDA Financial Network boosted its stake in Fortive by 3.4% in the second quarter. RDA Financial Network now owns 4,191 shares of the technology company's stock valued at $311,000 after acquiring an additional 138 shares in the last quarter. Pitcairn Co. grew its holdings in Fortive by 1.3% in the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company's stock worth $961,000 after purchasing an additional 139 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of Fortive by 0.8% during the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company's stock worth $1,371,000 after purchasing an additional 146 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Trading Up 0.3 %

NYSE:FTV opened at $73.60 on Monday. The company has a 50 day simple moving average of $72.28 and a two-hundred day simple moving average of $76.44. The company has a market cap of $25.79 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. Fortive has a 12 month low of $63.05 and a 12 month high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.01. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm's revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. Research analysts forecast that Fortive will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive's payout ratio is currently 12.65%.

About Fortive

(Get Free Report

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.

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