Royal Bank of Canada began coverage on shares of Fortive Corp (NYSE:FTV) in a research report report published on Thursday. The firm issued a sector perform rating and a $63.00 price target on the stock.
A number of other research firms have also recently commented on FTV. Barclays PLC reissued a buy rating and set a $65.00 price target on shares of Fortive Corp in a report on Wednesday, January 18th. Credit Suisse Group AG raised Fortive Corp from a neutral rating to an outperform rating and raised their price target for the company from $54.00 to $60.00 in a report on Friday, January 13th. SunTrust Banks, Inc. started coverage on Fortive Corp in a report on Tuesday, December 13th. They set a hold rating and a $57.00 price target on the stock. William Blair reissued a market perform rating on shares of Fortive Corp in a report on Tuesday, February 7th. Finally, Sanford C. Bernstein reissued an outperform rating on shares of Fortive Corp in a report on Thursday, December 15th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $56.43.
Shares of Fortive Corp (NYSE:FTV) opened at 59.08 on Thursday. The company’s 50-day moving average price is $58.05 and its 200 day moving average price is $54.05. Fortive Corp has a one year low of $43.00 and a one year high of $60.18. The stock has a market capitalization of $20.44 billion and a PE ratio of 23.54.
Fortive Corp (NYSE:FTV) last posted its quarterly earnings results on Tuesday, February 7th. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. Fortive Corp’s revenue was up 3.3% compared to the same quarter last year. Analysts anticipate that Fortive Corp will post $2.68 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, February 24th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, February 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.47%.
Large investors have recently modified their holdings of the company. Israel Discount Bank of New York GFN purchased a new stake in shares of Fortive Corp during the fourth quarter valued at about $124,000. Parallel Advisors LLC purchased a new stake in shares of Fortive Corp during the fourth quarter valued at about $166,000. Capital Guardian Trust Co. boosted its stake in shares of Fortive Corp by 6.4% in the fourth quarter. Capital Guardian Trust Co. now owns 3,748 shares of the company’s stock valued at $201,000 after buying an additional 226 shares during the period. IFM Investors Pty Ltd purchased a new stake in shares of Fortive Corp during the fourth quarter valued at about $208,000. Finally, Pinnacle Financial Partners Inc. boosted its stake in shares of Fortive Corp by 53.9% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 3,974 shares of the company’s stock valued at $213,000 after buying an additional 1,392 shares during the period. 77.18% of the stock is currently owned by hedge funds and other institutional investors.
About Fortive Corp
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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