Fortive (NYSE:FTV) Price Target Lowered to $77.00 at Wells Fargo & Company

Fortive (NYSE:FTV) had its price objective lowered by equities researchers at Wells Fargo & Company from $82.00 to $77.00 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 7.80% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Royal Bank of Canada lowered their price target on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday. Morgan Stanley initiated coverage on Fortive in a research note on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective on the stock. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Thursday, September 5th. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Fortive has an average rating of “Moderate Buy” and a consensus price target of $88.30.

Fortive Trading Down 0.9 %

Shares of Fortive stock traded down $0.66 during mid-day trading on Thursday, hitting $71.43. 3,135,281 shares of the stock were exchanged, compared to its average volume of 1,901,174. The stock has a market capitalization of $25.15 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 2.21 and a beta of 1.12. Fortive has a twelve month low of $64.44 and a twelve month high of $87.10. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $75.33 and a 200 day simple moving average of $74.57.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 EPS. Research analysts forecast that Fortive will post 3.82 EPS for the current year.

Insider Buying and Selling

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. acquired a new stake in shares of Fortive in the 1st quarter worth about $32,000. Ridgewood Investments LLC acquired a new stake in Fortive in the second quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new stake in Fortive in the second quarter worth approximately $30,000. Goodman Advisory Group LLC bought a new position in shares of Fortive during the 2nd quarter valued at $31,000. Finally, 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 purchasing an additional 176 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

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.