Stocks of Fortive Corporation (NYSE:FTV) traded higher last session on Wall Street, up 1.10% to $66.42.
According to the data, Fortive Corporation (NYSE:FTV) has 20 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $91.00 and a low of $63.00, we find $75.00. Given the previous closing price of $65.70, this indicates a potential upside of 14.16 percent. FTV stock price is now 1.59% away from the 50-day moving average and 1.82% away from the 200-day moving average. The market capitalization of the company currently stands at $23.55B.
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A total of 7 analysts have issued a hold rating and 9 have given it a buy rating. Brokers who have rated the stock have averaged $75.32 as their price target over the next twelve months.
In other news, Walker Stacey A., SVP – Human Resources sold 3,249 shares of the company’s stock on Feb 27. The stock was sold for $220,120 at an average price of $67.75. Upon completion of the transaction, the SVP – Human Resources now directly owns 32,721 shares in the company, valued at $2.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 23, SVP – Human Resources Walker Stacey A. sold 1,336 shares of the business’s stock. A total of $88,697 was realized by selling the stock at an average price of $66.39. This leaves the insider owning 37,946 shares of the company worth $2.52 million. Insiders disposed of 126,100 shares of company stock worth roughly $8.38 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FTV stock. A new stake in Fortive Corporation shares was purchased by CLARK CAPITAL MANAGEMENT GROUP, INC. during the first quarter worth $31,385,000. CANOE FINANCIAL LP invested $24,957,000 in shares of FTV during the first quarter. In the first quarter, BROOKFIELD CORP /ON/ acquired a new stake in Fortive Corporation valued at approximately $7,949,000. WALLEYE CAPITAL LLC acquired a new stake in FTV for approximately $6,647,000. MAN GROUP PLC purchased a new stake in FTV valued at around $4,358,000 in the second quarter. In total, there are 1,091 active investors with 97.20% ownership of the company’s stock.
During the past 12 months, Fortive Corporation has had a low of $52.47 and a high of $69.78. As of last week, the company has a debt-to-equity ratio of 0.31, a current ratio of 0.90, and a quick ratio of 0.70. According to the stock market information, the enterprise value for the company is $25.00B, which is based on a 31.12 price-to-earnings ratio, a 4.26 price-to-earnings-growth ratio, and a beta of 1.13. The fifty day moving average price for FTV is $65.42 and a two-hundred day moving average price translates $65.23 for the stock.
The latest earnings results from Fortive Corporation (NYSE: FTV) was released for Mar, 2023. The net profit margin was 12.90% and return on equity was 8.00% for FTV. The company reported revenue of $1.46 billion for the quarter, compared to $1.38 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.12 percent.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 05/26/2023 were paid a $0.07 dividend. On an annualized basis, this represents a $0.28 dividend and a 0.42% percent yield. There was an ex-dividend date of 05/25/2023 for this dividend. In terms of dividend payout ratio, FTV is presently at 13.00%.
Fortive Corporation(FTV) Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries. Additionally, it markets its products and services under the ACCRUENT, FLUKE, GORDIAN, INDUSTRIAL SCIENTIFIC, INTELEX, PRUFTECHNIK, and SERVICECHANNEL brands. Its Precision Technologies segment provides electrical test & measurement, sensing and material technologies under the ANDERSON-NEGELE, GEMS, SETRA, HENGSTLER-DYNAPAR, QUALITROL, PACIFIC SCIENTIFIC, KEITHLEY, and TEKTRONIX brands for industrial, power and energy, automotive, medical equipment, food and beverage, aerospace and defense, semiconductor, and other general industries. Advanced Healthcare Solutions segment offers critical workflow solutions including instrument sterilization, instrument tracking, design and manufacture of cell therapy equipment, biomedical test tools, radiation detection and safety monitoring, and end-to-end clinical productivity software and solutions under the ASP, CENSIS, CENSITRAC, EVOTECH, FLUKE BIOMEDICAL, INVETECH, LANDAUER, PROVATION, RAYSAFE, and STERRAD brands. The company was incorporated in 2015 and is headquartered in Everett, Washington.
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