Fortive Co. (NYSE:FTV) is a technology company focused on providing a variety of products, software, and services across many industries worldwide. The company’s Intelligent Operating Solutions segment offers advanced instrumentation, software and services including electrical test and measurement products, facility and asset management software applications, worker safety and compliance solutions for different industries such as healthcare, manufacturing, process industries, utilities and power among others.
According to Bloomberg.com reports, Fortive Co. has been assigned a “Moderate Buy” recommendation by nine analysts covering the firm. Seven out of these nine research analysts have issued buy recommendations for the stock while two equities research analysts have only given hold ratings for the same. This consensus rating shows that most analysts are optimistic about Fortive’s prospects in the market.
Additionally, investment analysts who have updated their coverage on the stock over the past year see potential growth in Fortive’s share price within twelve months. The average 12-month target price predicted by these analysts is $74.18. This forecasted share price represents potential growth of approximately 5% from today’s market price.
The recent earnings report released by Fortive indicates that the company has recorded significant profit in its latest quarter ending on April 26th. The quarterly revenue was $1.46 billion which exceeded market expectations of $1.42 billion while earnings per share (EPS) came in at $0.75 – two cents above the consensus estimate of $0.73 EPS.
Fortive has demonstrated remarkable performance with its net margin at 12.92% showing an increase compared to the same period last year while return on equity stands at 11.92%. Net income totaled $174 million which along with total assets value of over $11 billion highlights Fortive’s strong financial position within this industry.
Looking ahead to future quarters’ results, research analysts suggest Wall Street is expecting continued solid performance from the company where it would post an estimated EPS of 3.35 for the current fiscal year. Fortive’s continued growth will surely impress investors who are looking to take positions in a tech company with strong potential for sustained success.
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Fortive Corporation: Positive Evaluations and Strong Financial Stability Drive Investor Confidence
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”FTV” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Fortive Corporation has been receiving positive reviews from analysts lately, with several firms indicating a “buy” rating on the stock. StockNews.com released a research note on May 18th, highlighting the company’s potential for growth. Royal Bank of Canada and JPMorgan Chase & Co. also provided bullish evaluations by increasing their target prices on Fortive stock. In April, Vertical Research upgraded its rating from hold to buy and set a price objective of $74 for the company.
On Friday, shares of NYSE:FTV opened at $71.03 with a market capitalization of $24.98 billion. Fortive’s 50-day and 200-day simple moving averages were recorded at $66.69 and $66.45 respectively. Key metrics included a debt-to-equity ratio of 0.21, a current ratio of 0.93, and a quick ratio of 0.72; while beta value stood at 1.13 with its P/E ratio at 33:19 and P/E/G ratio recorded at 2.73 for profitability determination purpose during assessment process.
Fortive Corporation is an innovative firm that designs, manufactures, markets and maintains professionally engineered products globally through its Intelligent Operating Solutions segmentation platform tailored to meet clients’ unique needs across multiple industries such as healthcare utilities, communications & electronics amongst others by offering advanced instrumentation software services.
Moreover, shareholders should be pleased to know that Fortive has announced a quarterly dividend payment due June30th to investors recorded on May26th amounting to $0:07 per share representing an annualized dividend yield of 0:39%. Presently FTV payout ratio is currently standing at about13%, which signifies strong financial stability hence increasing confidence level in equity investment decisions made by potential shareholders.
Several prominent institutional investors have taken stakes in Fortive recently, reflecting their belief in the company’s long-term prospects despite market challenges induced by COVID-19 pandemic. Fairfield Bush & CO, Mirae Asset Global Investments Co., Ltd and Panagora Asset Management are among the institutions that have recently purchased shares of Fortive. Hedge funds hold 95.46% of total FTV stocks, indicating a high level of investor confidence in the company’s growth potential.
In conclusion, the Fortive Corporation has received positive analyst reviews and has performed well over the past year with revenue growth up by over eight percent. The company also announced an upcoming quarterly dividend payment to investors on May 26th, which is set to signal their strong financial position as an investor option despite uncertainties in the market environment lately due to Covid-19 pandemic.
Fortive Corporation stands as a solid investment opportunity that possesses resilience during challenging market cycles hence limiting downside risk exposure and increasing portfolio optimization efficiency for both long-term and short-term shareholders.
