Fortive Corporation (FTV) Given “Buy” Rating at SunTrust Banks, Inc. – Dispatch Tribunal


Fortive Corporation (NYSE:FTV)‘s stock had its “buy” rating reiterated by SunTrust Banks, Inc. in a research report issued to clients and investors on Friday. They presently have a $81.00 price objective on the technology company’s stock. SunTrust Banks, Inc.’s price objective indicates a potential upside of 10.25% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Fortive Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Royal Bank Of Canada reissued a “hold” rating and issued a $66.00 price objective on shares of Fortive Corporation in a research report on Friday, September 15th. Citigroup Inc. reissued a “neutral” rating and issued a $72.00 price objective (up from $65.00) on shares of Fortive Corporation in a research report on Monday, October 9th. Stifel Nicolaus reissued a “hold” rating and issued a $62.00 price objective on shares of Fortive Corporation in a research report on Sunday, July 30th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Fortive Corporation presently has an average rating of “Hold” and an average target price of $69.10.

Shares of Fortive Corporation (NYSE FTV) traded down 0.07% during mid-day trading on Friday, reaching $73.42. 639,019 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $70.45 and a 200 day moving average price of $65.36. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $74.37. The firm has a market capitalization of $25.48 billion, a price-to-earnings ratio of 28.92 and a beta of 0.39.

Fortive Corporation (NYSE:FTV) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.66 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. Analysts anticipate that Fortive Corporation will post $2.80 EPS for the current fiscal year.

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In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.10% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in FTV. CENTRAL TRUST Co lifted its position in shares of Fortive Corporation by 1.0% in the 2nd quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after purchasing an additional 23 shares during the period. Mirador Capital Partners LP lifted its position in shares of Fortive Corporation by 0.4% in the 2nd quarter. Mirador Capital Partners LP now owns 6,013 shares of the technology company’s stock worth $404,000 after purchasing an additional 26 shares during the period. North Star Asset Management Inc. lifted its position in shares of Fortive Corporation by 0.4% in the 2nd quarter. North Star Asset Management Inc. now owns 7,701 shares of the technology company’s stock worth $488,000 after purchasing an additional 32 shares during the period. Atria Investments LLC lifted its position in shares of Fortive Corporation by 1.4% in the 2nd quarter. Atria Investments LLC now owns 4,570 shares of the technology company’s stock worth $289,000 after purchasing an additional 61 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Fortive Corporation by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,402 shares of the technology company’s stock worth $1,419,000 after purchasing an additional 72 shares during the period. 78.55% of the stock is owned by institutional investors.

About Fortive Corporation

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.

Analyst Recommendations for Fortive Corporation (NYSE:FTV)




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