Fortive Co. (NYSE: FTV) had a good financial performance in Q3 of 2022 with a return on equity of 11.90% and a net margin of 12.96%. The company beat the consensus estimate of $0.84 per share and posted $0.88 EPS for the quarter. Fortive also declared a quarterly dividend of $0.07 per share to be paid on March 31st. The dividend represents a yield of 0.44% and a payout ratio of 13.33%.
Furthermore, the company’s stock had a 12 month low of $52.47 and a 12 month high of $69.78. The company is divided into three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The company has 94.84% institutional ownership, with several hedge funds and other institutional investors owning shares. The senior vice president, Stacey A. Walker, has recently sold over 6,648 shares of company stock in the last ninety days. Finally, MarketBeat.com reports a consensus rating of “Moderate Buy” with an average target price of $73.00.
Continental Investors Services Inc. has invested in Fortive Co. (NYSE:FTV), as per the company’s recent disclosure. The investment comes in addition to other institutional investors who have made changes to their positions in the technology company, including EverSource Wealth Advisors LLC, Prudential PLC, Apollon Wealth Management LLC, Zions Bancorporation N.A., and Kinneret Advisory LLC. These investors have lifted their holdings in Fortive by acquiring an additional number of shares ranging from 160 to 186 in the last quarter. Hedge funds and other institutional investors own the majority of the company’s stock, at 94.84%.
FTV has been the subject of recent research reports by different analysts. Wells Fargo & Company has increased its price objective on the stock from $69.00 to $70.00, while StockNews.com started coverage on Fortive with a “buy” rating. Mizuho has also raised its target price on FTV from $60.00 to $63.00, with a “neutral” rating. JPMorgan Chase & Co. and Citigroup have both upped their target prices on Fortive from $74.00 to $77.00 and from $77.00 to $78.00, respectively, and have assigned an “overweight” and a “buy” rating to the stock. According to MarketBeat.com, three equities research analysts have rated the stock as “hold,” while seven have given it a “buy” rating. The consensus rating of the company is a “Moderate Buy,” with an average target price of $73.00.
No insider activity at Fortive has been reported in this disclosure.
Fortive Co. (NYSE: FTV) had a recent insider activity where Senior Vice President Stacey A. Walker sold a total of 3,249 shares of the stock on Monday, February 27th, at an average price of $67.75, for a total transaction of $220,119.75. The insider now holds 32,721 shares of the company’s stock, valued at $2,216,847.75. Prior to this, on Friday, February 17th, Stacey A. Walker sold 2,063 shares of FTV stock at an average price of $68.67, for a total transaction of $141,666.21. Following the sale, the insider holds 40,150 shares of the company’s stock, valued at $2,757,100.50. The insider activity was disclosed in a document filed with the Securities & Exchange Commission, which is available through the provided hyperlinks. Insiders sold a total of 6,648 shares of the company’s stock, valued at $450,483, over the last ninety days. Company insiders own 0.79% of Fortive Co.’s stock.
Fortive Co.’s stock opened at $63.93 on Friday, with a market capitalization of $22.58 billion, a PE ratio of 30.44, and a beta of 1.13. The company has a current ratio of 0.91, a quick ratio of 0.71, and a debt-to-equity ratio of 0.23. Its 50-day moving average price is $67.11, and its 200-day moving average price is $65.03. The stock has a 12-month low of $52.47 and a 12-month high of $69.78.
Fortive’s stock has been recently affected by insider activity and has a moderate rating, with equities research analysts giving a “hold” rating to the stock. The company has a consensus rating of “Moderate Buy,” with an average target price of $73.00.
Fortive Co. (NYSE: FTV) reported its quarterly earnings data on Wednesday, February 1st, with an EPS of $0.88, beating the consensus estimate of $0.84 by $0.04. The firm had revenue of $1.53 billion for the quarter, up 11.3% on a year-over-year basis. Fortive had a return on equity of 11.90% and a net margin of 12.96%. For the current fiscal year, sell-side analysts forecast that the company will post 3.35 EPS. The company also announced a quarterly dividend of $0.07 per share on Friday, March 31st. The ex-dividend date of this dividend was Thursday, February 23rd, and investors of record on Friday, February 24th were issued the dividend. Fortive’s dividend payout ratio is currently 13.33%.
Fortive Corp. is a technology company that designs, develops, manufactures, and markets professional and engineered products, software, and services for a variety of end markets. It operates through the Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions segments. For more information on Fortive’s holdings and insider trades, visit HoldingsChannel.com. Investors can also receive daily news and ratings for Fortive and related companies with MarketBeat.com’s free daily email newsletter.
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