Fortive (NYSE:FTV) Earns Hold Rating from Credit Suisse Group

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Credit Suisse Group reiterated their hold rating on shares of Fortive (NYSE:FTV) in a research note published on Tuesday morning, AnalystRatings.com reports. The brokerage currently has a $76.00 price target on the technology company’s stock.

A number of other equities analysts have also commented on FTV. Raymond James set a $84.00 price target on shares of Fortive and gave the stock an outperform rating in a research report on Friday, July 26th. ValuEngine lowered shares of Fortive from a buy rating to a hold rating in a research report on Monday, May 13th. Gordon Haskett lowered shares of Fortive from a buy rating to a hold rating in a research report on Monday, August 5th. Barclays lowered their price target on shares of Fortive from $89.00 to $84.00 and set an overweight rating on the stock in a research report on Thursday, September 5th. Finally, Berenberg Bank assumed coverage on shares of Fortive in a research report on Wednesday, May 15th. They set a buy rating and a $96.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Fortive presently has a consensus rating of Hold and a consensus price target of $81.86.

Shares of FTV opened at $70.02 on Tuesday. The firm has a market capitalization of $23.49 billion, a PE ratio of 22.88, a PEG ratio of 2.62 and a beta of 1.22. The company’s 50-day moving average is $70.99 and its 200-day moving average is $79.30. Fortive has a fifty-two week low of $62.89 and a fifty-two week high of $89.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, July 25th. The technology company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The company’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. Analysts predict that Fortive will post 3.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Thursday, August 29th. Fortive’s dividend payout ratio is currently 9.15%.

In other Fortive news, SVP Stacey A. Walker sold 34,446 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $70.70, for a total value of $2,435,332.20. Following the transaction, the senior vice president now directly owns 20,015 shares of the company’s stock, valued at approximately $1,415,060.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 12.70% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in FTV. Dimensional Fund Advisors LP increased its holdings in Fortive by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,033,586 shares of the technology company’s stock valued at $69,929,000 after buying an additional 158,849 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Fortive by 115.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 18,511 shares of the technology company’s stock valued at $1,552,000 after buying an additional 9,936 shares during the period. Bbva Compass Bancshares Inc. boosted its stake in shares of Fortive by 9.3% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 5,429 shares of the technology company’s stock valued at $456,000 after purchasing an additional 463 shares in the last quarter. Goelzer Investment Management Inc. acquired a new stake in shares of Fortive in the 1st quarter valued at approximately $830,000. Finally, Cetera Advisor Networks LLC acquired a new stake in shares of Fortive in the 1st quarter valued at approximately $208,000. 82.64% of the stock is currently owned by hedge funds and other institutional investors.

About Fortive

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Analyst Recommendations for Fortive (NYSE:FTV)

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