JPMorgan Chase & Co. cut shares of Fortive (NYSE:FTV) from an overweight rating to a neutral rating in a research note released on Friday morning, MarketBeat.com reports. The firm currently has $84.00 price target on the technology company’s stock.
A number of other research firms have also recently issued reports on FTV. Barclays initiated coverage on shares of Fortive in a report on Thursday, February 15th. They set an overweight rating and a $86.00 price target for the company. BMO Capital Markets decreased their price target on shares of Fortive from $88.00 to $87.00 and set an outperform rating for the company in a report on Friday, February 9th. Zacks Investment Research upgraded shares of Fortive from a hold rating to a buy rating and set a $83.00 price target for the company in a report on Wednesday, February 14th. Citigroup upped their price target on shares of Fortive from $76.00 to $79.00 and gave the company a neutral rating in a report on Friday, February 9th. Finally, Royal Bank of Canada restated a hold rating and set a $79.00 price target on shares of Fortive in a report on Thursday, January 4th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $77.50.
Shares of Fortive (NYSE:FTV) opened at $80.27 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.47 and a debt-to-equity ratio of 1.07. Fortive has a fifty-two week low of $57.98 and a fifty-two week high of $80.31. The stock has a market cap of $27,936.50, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.44 and a beta of 0.42.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 23rd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortive’s payout ratio is presently 9.46%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Calton & Associates Inc. bought a new stake in shares of Fortive in the fourth quarter valued at about $107,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Fortive in the third quarter valued at about $135,000. Willingdon Wealth Management bought a new stake in shares of Fortive in the third quarter valued at about $143,000. Tower Research Capital LLC TRC bought a new stake in shares of Fortive in the fourth quarter valued at about $184,000. Finally, Private Advisor Group LLC bought a new stake in shares of Fortive in the third quarter valued at about $200,000. Institutional investors and hedge funds own 81.23% of the company’s stock.
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Fortive Company Profile
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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