The price objective for Fortive (NYSE: FTV) was increased from $60.00 to $63.00, as stated in a letter distributed to investors on Friday by research analysts working for Mizuho. The information was first presented in a publication by The Fly. Based on its most recent 6.08%, the target price established by Mizuho indicates a possibility of a fall in value for the company. This possibility is indicated by the fact that there is a possibility of a fall in value for the company.
Recently, several other analysts have offered their perspectives on the company, and they have done so in various ways. In a research report published on Thursday, October 20, StockNews.com gave Fortive a “buy” recommendation, indicating that investors should purchase the company’s shares. Previously, a “hold” rating was assigned to the company. Morgan Stanley upgraded the company to an “overweight” status and raised their price target for Fortive from $73.00 to $75.00 in a research report that was made public on Thursday, October 27. In a research note published on October 27, Credit Suisse Group lowered both the “outperform” rating that had previously been given to Fortive and the $79 price target set for the stock. In a research note published on January 5, Wells Fargo & Company gave Fortive an “equal weight” rating and increased their price target from $64.00 to $67.00. In addition, the price target was raised.
Additionally, the note mentioned that the price objective had been raised from $64.00 to $67.00. Citigroup raised their target price on Fortive’s stock from $73.00 to $77.00 and upgraded the company’s rating from “hold” to “buy” in a research report published on Friday, December 9. Seven analysts have given the company a recommendation to buy, while only three have recommended that investors maintain their current holdings in the stock. According to Bloomberg.com, the current consensus rating for the stock is “Moderate Buy,” and the current consensus price goal is $73.69 per share.
When trading started on Friday, a share of Fortive stock was going for a price of $67.08 per share. A debt-to-equity ratio comes in at 0.27; a quick ratio comes in at 0.73; a current ratio comes in at 0.94; and a quick ratio comes in at 0.73. The company’s simple moving average over the past 50 days is $65.90, and its simple moving average over the past 200 days is $63.04. A beta of 1.12, a P.E. ratio of 35.12, and a PEG ratio of 2.25 are all associated with Fortive. It is currently valued at $23.73 billion on the market. The lowest point for the company over the past 52 weeks was $52.47, and its highest point over the past 52 weeks was $74.39.
Fortive (NYSE: FTV) disclosed the company’s financial results for the year’s third quarter on Wednesday, October 26. The technology company reported $0.79 per share earnings for the previous quarter, which is $0.03 more than the consensus estimate of $0.76 per share provided by market analysts. The company’s revenue came in at $1.46 billion for the quarter, significantly higher than the average prediction of $1.44 billion made by financial analysts. Fortive successfully achieved a net margin of 12.22% and an equity return of 11.69%. The majority opinion held by professionals in the relevant field is that Fortive will achieve earnings per share of $3.12 in 2018.
On Friday, November 11, Fortive’s Chief Financial Officer Charles E. Mclaughlin sold 13,156 shares of the company’s stock, which brings us to another piece of news regarding the company. The transaction involving the shares had a total value of $900,396.94, and the price paid for each share came to an average of $68.44. After the completion of the transaction, the chief financial officer now owns 88,818 shares of the company, which have a combined value of $6,078,703.92 at present. You can acquire additional information regarding the transaction if you click on the link provided for you. This link will take you to an official document presented to the Securities and Exchange Commission. In related news, on Friday, November 11, Patrick K. Murphy, Chief Executive Officer of the company, sold 32,788 shares of company stock. This is another piece of recent information. The stock was bought and sold for a total value of $2,247,945.28 at an average price per share of $68.56. This resulted in the accumulation of cash. After the transaction is finalized, the CEO will be the sole owner of 62,929 shares. Based on the current market price, these shares are worth $4,314,412.24. One can access a document that provides additional information on the transaction by going to the Securities and Exchange Commission (SEC) website. In addition, on Friday, November 11, Chief Financial Officer Charles E. Mclaughlin sold 13,156 shares of the company’s stock. The transaction involving the shares had a total value of $900,396.94, and the price paid for each share came to an average of $68.44. After the completion of the transaction, the chief financial officer now owns 88,818 shares of the company, which have a combined value of $6,078,703.92 at present. Disclosures that are related to the sale might be found in this section of the website. People hold a total of 0.79% of shares with inside knowledge of the company.
During the previous few months, hedge funds have either increased or decreased the amount of the company’s stock that they hold. During the third quarter of 2018, EverSource Wealth Advisors LLC increased the total number of shares of Fortive Corporation that it held by 18.4%. During the most recent reporting period, EverSource Wealth Advisors LLC increased its stake in the technology business by purchasing an additional 160 shares, bringing the total number of shares it currently owns to 1,031, with a value of $60,000. During the second quarter, Prudential PLC increased the amount of Fortive stock owned by 2.8%, bringing its total ownership percentage to 100%. Following the acquisition of 174 additional shares during the most recent fiscal quarter, Prudential PLC now holds a total of 6,371 stock held by the technology company. The value of these shares is $346,000. Zions Bancorporation N.A. increased the amount of Fortive stock owned by 21.8% over the first three months of the year. Zions Bancorporation N.A. now has a total of 977 shares in the technology company after purchasing an additional 175 shares during the most recent quarter. The shares are valued at $59,000 and have a market capitalization of Zions Bancorporation N.A. In the third quarter, Apollon Wealth Management LLC increased its Fortive stock by 4.6%, bringing its total ownership percentage to 100%. Following the acquisition of an additional 175 shares during the preceding quarter, Apollon Wealth Management LLC now owns a total of 4,006 shares of the technology company’s stock, which are currently valued at a combined total of $234,000. During the second quarter, Kinneret Advisory LLC increased the amount of Fortive stock owned by 2.2%, bringing its total ownership to 100%. In the most recent fiscal quarter, Kinneret Advisory LLC acquired 180 additional shares, bringing the total number of shares directly owned by the company in the technology sector to 8,503, with a value of $462,000. At present, institutional investors and hedge funds own 94.84% of the total number of shares issued by the company.
Fortive Firm is a multinational corporation designing, developing, producing, distributing, and maintaining things, services, and software that are expertly engineered. Software, engineered commodities, and service offerings are all part of the company’s catalog of wares and offerings. Its Intelligent Operating Solutions division offers connected reliability tools, enterprise software products for the environment, health, safety, and quality, facility and asset lifecycle software, pre-construction planning and construction procurement solutions, ruggedized professional test tools, electric, pressure, and temperature calibration tools, and portable instruments to a wide variety of vertical end markets. These vertical end markets include manufacturing, process industries, healthcare, and more.