Fortive (NYSE:FTV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Fortive Corporation is currently benefiting from strength in developed markets, improved performance by Tektronix and automation businesses in North America. Ongoing margin expansion owing to the Fortive Business System, acquisitions and strong free cash flow generation are the positives. We note that acquisitions of Industrial Scientific and Landauer is anticipated to drive recurring revenues. The company’s subscription-based radiation exposure services are focused in the medical end market. However, end market cyclicality, integration issues and uncertainties in the international markets pose concerns. In the past 12 months, the stock has underperformed the industry it belongs to.”

Several other equities research analysts also recently issued reports on FTV. Morgan Stanley reaffirmed an “equal weight” rating and set a $72.00 price target (up previously from $71.00) on shares of Fortive in a research note on Monday, October 2nd. Citigroup reaffirmed a “neutral” rating and set a $72.00 price target (up previously from $65.00) on shares of Fortive in a research note on Monday, October 9th. Royal Bank of Canada reaffirmed a “hold” rating and set a $70.00 price target on shares of Fortive in a research note on Wednesday, October 11th. Stifel Nicolaus lifted their price target on shares of Fortive from $62.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $81.00 price target on shares of Fortive in a research note on Friday, October 27th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Fortive presently has a consensus rating of “Hold” and a consensus price target of $72.70.

Shares of Fortive (NYSE FTV) traded up $0.75 during mid-day trading on Tuesday, hitting $74.74. 1,525,200 shares of the stock were exchanged, compared to its average volume of 1,334,873. Fortive has a fifty-two week low of $53.59 and a fifty-two week high of $75.69. The stock has a market cap of $25,880.00 and a P/E ratio of 28.20. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.95.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. equities analysts forecast that Fortive will post 2.85 earnings per share for the current fiscal year.

In other Fortive news, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the transaction, the insider now directly owns 166,014 shares of the company’s stock, valued at approximately $12,142,263.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. North Star Asset Management Inc. boosted its holdings in shares of Fortive by 0.4% in the 2nd quarter. North Star Asset Management Inc. now owns 7,701 shares of the technology company’s stock valued at $488,000 after buying an additional 32 shares during the period. Princeton Portfolio Strategies Group LLC boosted its holdings in shares of Fortive by 1.6% in the 2nd quarter. Princeton Portfolio Strategies Group LLC now owns 5,568 shares of the technology company’s stock valued at $353,000 after buying an additional 90 shares during the period. J.P. Marvel Investment Advisors LLC boosted its holdings in shares of Fortive by 0.5% in the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 16,785 shares of the technology company’s stock valued at $1,063,000 after buying an additional 90 shares during the period. Profund Advisors LLC boosted its holdings in shares of Fortive by 1.4% in the 2nd quarter. Profund Advisors LLC now owns 7,801 shares of the technology company’s stock valued at $494,000 after buying an additional 111 shares during the period. Finally, Roundview Capital LLC lifted its position in Fortive by 1.5% in the 2nd quarter. Roundview Capital LLC now owns 11,784 shares of the technology company’s stock valued at $747,000 after purchasing an additional 175 shares during the last quarter. 78.80% of the stock is owned by institutional investors and hedge funds.

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About Fortive

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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