Barclays Cuts Fortive (NYSE:FTV) Price Target to $85.00

Fortive (NYSE:FTV) had its target price decreased by Barclays from $90.00 to $85.00 in a research note released on Wednesday morning, Marketbeat.com reports. Barclays currently has an overweight rating on the technology company’s stock.

A number of other research firms have also weighed in on FTV. Wells Fargo & Company boosted their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Royal Bank of Canada lifted their target price on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. StockNews.com cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Truist Financial boosted their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.18.

Fortive Trading Down 2.7 %

NYSE FTV opened at $72.57 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $78.35 and a 200-day moving average of $76.93. Fortive has a 12 month low of $66.15 and a 12 month high of $85.93. The company has a market cap of $24.69 billion, a PE ratio of 30.75, a PEG ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV) last announced its quarterly earnings data 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 net margin of 13.36% and a return on equity of 13.15%. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, equities research analysts anticipate that Fortive will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Friday, February 28th. Fortive’s payout ratio is currently 13.56%.

Insider Activity at Fortive

In other Fortive news, CEO James A. Lico sold 196,117 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the sale, the chief executive officer now owns 528,851 shares of the company’s stock, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 3,002 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $79.05, for a total value of $237,308.10. Following the transaction, the senior vice president now directly owns 42,373 shares of the company’s stock, valued at $3,349,585.65. This trade represents a 6.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock valued at $19,508,529 over the last quarter. 1.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. boosted its position in Fortive by 5.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,554 shares of the technology company’s stock valued at $192,000 after acquiring an additional 127 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Fortive by 4.3% in the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock valued at $252,000 after purchasing an additional 137 shares during the period. Dynasty Wealth Management LLC boosted its position in shares of Fortive by 1.0% during the 4th quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company’s stock valued at $1,083,000 after purchasing an additional 142 shares in the last quarter. Manchester Capital Management LLC grew its stake in Fortive by 13.4% during the fourth quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company’s stock worth $105,000 after purchasing an additional 165 shares during the period. Finally, Webster Bank N. A. increased its holdings in Fortive by 6.6% in the fourth quarter. Webster Bank N. A. now owns 2,696 shares of the technology company’s stock worth $202,000 after purchasing an additional 168 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.