Fortive (NYSE:FTV) Price target raised to $72.00 at Citigroup

Fortive (NYSE:FTV – Get a Rating) saw its target price raised by Citigroup from $69.00 to $72.00 in a report released Friday morning, reports The Fly.

Several other research companies have also weighed in on FTV recently. took over Fortive’s stock coverage in a Thursday, March 31, research report. They have set a holding rating on the stock. Cowen lowered his price target on Fortive shares from $80.00 to $70.00 in a Thursday, June 2 research note. Mizuho cut its price target on Fortive shares from $62.00 to $60.00 and set a neutral rating for the company in a research note on Monday, July 18. Credit Suisse Group set a price target of $74.00 on Fortive shares in a Tuesday, July 19 report. Finally, Morgan Stanley cut its price target on Fortive from $67.00 to $64.00 and set an equal weight rating for the company in a Tuesday, May 31 research note. Six analysts gave the stock a hold rating and five gave the company a buy rating. Based on MarketBeat data, Fortive has an average Hold rating and an average target price of $70.71.

Fortive Stock down 0.0%

Shares of Fortive opened at $64.43 on Friday. The company’s 50-day moving average price is $57.78 and its 200-day moving average price is $60.62. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt ratio of 0.28. Fortive has a 52-week low of $52.47 and a 52-week high of $79.87. The company has a market capitalization of $23.09 billion, a P/E ratio of 35.79, a PEG ratio of 2.22 and a beta of 1.16.

Fortive (NYSE:FTV – Get Rating) last released quarterly earnings data on Thursday, July 28. The technology company reported earnings per share (EPS) of $0.78 for the quarter, beating analyst consensus estimates of $0.72 by $0.06. Fortive had a net margin of 11.86% and a return on equity of 11.25%. The company posted revenue of $1.46 billion for the quarter, versus a consensus estimate of $1.41 billion. In the same quarter of the previous year, the company achieved EPS of $0.66. The company’s quarterly revenue increased by 10.9% compared to the same quarter last year. On average, sell-side analysts expect Fortive to post 3.1 EPS for the current fiscal year.

Fortive Institutional Trading

Several institutional investors have recently changed their positions in FTV. Viking Global Investors LP increased its position in Fortive shares by 41.8% during the first quarter. Viking Global Investors LP now owns 12,033,157 shares of the technology company valued at $733,180,000 after purchasing an additional 3,548,215 shares during the period. Gates Capital Management Inc. purchased a new stake in Fortive stock during Q1 worth approximately $180,743,000. Norges Bank bought a new stake in Fortive in the fourth quarter worth approximately $221,385,000. First Trust Advisors LP increased its position in Fortive by 428.0% in the fourth quarter. First Trust Advisors LP now owns 2,976,738 shares of the technology company valued at $227,095,000 after purchasing an additional 2,413,002 shares during the period. Finally, Flossbach Von Storch AG increased its position in Fortive by 13.2% in the first quarter. Flossbach Von Storch AG now owns 12,492,886 shares of the technology company valued at $761,192,000 after purchasing an additional 1,457,136 shares during the period. Hedge funds and other institutional investors hold 95.21% of the company’s shares.

About Fortive

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Fortive Corporation designs, develops, manufactures, markets and services professional and technical products, software and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; enterprise software products for environment, health, safety and quality; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; robust professional testing tools; electrical, pressure and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and electrical, communications and electronics, and more.

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