Fortive (NYSE:FTV) Price Target Increased to $77.00 by Analysts at Rosenblatt Securities
Fortive (NYSE:FTV) had its price target upped by Rosenblatt Securities from $68.00 to $77.00 in a research note published on Wednesday, AnalystRatings.com reports. They currently have a neutral rating on the technology company’s stock.
Other research analysts have also issued research reports about the stock. Robert W. Baird upgraded shares of Fortive from a neutral rating to an outperform rating and set a $80.00 price target on the stock in a research note on Thursday, June 25th. Barclays reiterated a buy rating and issued a $73.00 price target on shares of Fortive in a research note on Friday, April 17th. Vertical Research upgraded shares of Fortive from a hold rating to a buy rating and set a $75.00 price target on the stock in a research note on Friday, June 5th. Morgan Stanley upped their price target on shares of Fortive from $72.00 to $83.00 and gave the company an overweight rating in a research note on Friday, June 19th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a hold rating and issued a $69.00 price target on shares of Fortive in a research note on Monday, July 20th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $77.38.
Shares of Fortive stock traded down $1.97 during trading on Wednesday, hitting $70.19. 2,907,660 shares of the stock were exchanged, compared to its average volume of 1,652,919. The stock has a market capitalization of $23.66 billion, a price-to-earnings ratio of 47.43, a price-to-earnings-growth ratio of 4.59 and a beta of 1.24. The company has a fifty day moving average price of $68.55 and a 200-day moving average price of $65.94. Fortive has a 1-year low of $37.31 and a 1-year high of $80.61. The company has a current ratio of 1.13, a quick ratio of 1.32 and a debt-to-equity ratio of 0.65.
In other news, Director Alan G. Spoon purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $54.46 per share, with a total value of $1,089,200.00. Also, Director Mitchell P. Rales sold 40,134 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $63.72, for a total transaction of $2,557,338.48. Following the sale, the director now directly owns 3,399,396 shares of the company’s stock, valued at approximately $216,609,513.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,963 shares of company stock valued at $7,750,899. 12.60% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of FTV. TFG Advisers LLC bought a new position in shares of Fortive during the fourth quarter valued at $28,000. Ropes Wealth Advisors LLC increased its position in shares of Fortive by 78.6% during the first quarter. Ropes Wealth Advisors LLC now owns 525 shares of the technology company’s stock worth $29,000 after buying an additional 231 shares during the period. Bartlett & Co. LLC acquired a new stake in shares of Fortive during the first quarter worth $76,000. WASHINGTON TRUST Co acquired a new stake in shares of Fortive during the first quarter worth $79,000. Finally, CSat Investment Advisory L.P. increased its position in shares of Fortive by 50.2% during the first quarter. CSat Investment Advisory L.P. now owns 1,467 shares of the technology company’s stock worth $81,000 after buying an additional 490 shares during the period. 82.54% of the stock is owned by institutional investors and hedge funds.
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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