Fortive Corp. (NYSE:FTV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “Fortive Corporation is an industrial growth company. Its segment comprised of Professional Instrumentation and Industrial Technologies. Professional Instrumentation segment consists of instrumentation and solutions, sensing technologies businesses. Industrial Technologies segment consists of transportation technologies, automation and specialty components and franchise distribution businesses. Fortive Corporation is based in WA, United States. “
FTV has been the topic of several other research reports. Raymond James Financial Inc. started coverage on Fortive Corp. in a research note on Friday, September 23rd. They issued an “outperform” rating and a $58.00 price objective on the stock. Argus started coverage on Fortive Corp. in a research note on Thursday, September 8th. They issued a “hold” rating on the stock. Goldman Sachs Group Inc. started coverage on Fortive Corp. in a research note on Wednesday, September 28th. They issued a “neutral” rating and a $47.00 price objective on the stock. Morgan Stanley started coverage on Fortive Corp. in a research note on Tuesday, July 5th. They issued an “overweight” rating and a $55.00 price objective on the stock. Finally, Barclays PLC started coverage on Fortive Corp. in a research note on Wednesday, July 6th. They issued an “overweight” rating and a $55.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Fortive Corp. presently has a consensus rating of “Hold” and an average price target of $52.60.
Shares of Fortive Corp. (NYSE:FTV) opened at 50.70 on Wednesday. Fortive Corp. has a one year low of $46.29 and a one year high of $54.34. The firm has a market cap of $17.52 billion and a price-to-earnings ratio of 20.50. The stock’s 50 day moving average price is $51.48 and its 200 day moving average price is $50.90.
Fortive Corp. (NYSE:FTV) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. The business earned $1.56 million during the quarter, compared to the consensus estimate of $1.56 million. Fortive Corp.’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, equities analysts anticipate that Fortive Corp. will post $2.43 earnings per share for the current fiscal year.
The business also recently declared a special dividend, which was paid on Friday, September 30th. Investors of record on Friday, August 26th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 24th.
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