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.
WARNING: This article was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another site, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The legal version of this article can be read at https://www.dispatchtribunal.com/2017/10/27/fortive-corporation-ftv-given-buy-rating-at-suntrust-banks-inc.html.
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.
Receive News & Ratings for Fortive Corporation Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Fortive Corporation and related companies with MarketBeat.com’s FREE daily email newsletter.