Market Analysts see Fortive Corp [FTV] gaining to $70. Time to buy?

Fortive Corp [NYSE: FTV] traded at a high on 11/30/23, posting a 1.88 gain after which it closed the day’ session at $68.98. The company report on November 2, 2023 at 4:15 PM that Fortive Declares Regular Quarterly Dividend on its Common Stock.

Fortive Corporation (“Fortive”) (NYSE: FTV) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.08 per share of its common stock, representing 14% increase over the previous quarterly dividend.

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James A. Lico, President and Chief Executive Officer, stated, “As a reflection of the confidence in our capital strength and robust cash generation, we are increasing our quarterly dividend in the fourth quarter, while prioritizing investments for growth aligned to our leadership positions in our connected workflows leveraged to favorable megatrends. We believe our capital deployment, along with sustainable and more profitable growth across our portfolio, will be a key driver to delivering the mid-teens compounded earnings and free cash flow growth that we are targeting over the long term.”.

The results of the trading session contributed to over 3730409 shares changing hands. Over the past one week, the price volatility of Fortive Corp stands at 1.34% while the volatility over the past one month is 1.40%.

The market cap for FTV stock reached $24.24 billion, with 352.90 million shares outstanding and 350.31 million shares in the current float. Compared to the average trading volume of 1.98M shares, FTV reached a trading volume of 3730409 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Fortive Corp [FTV]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FTV shares is $78.93 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FTV stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Fortive Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 26, 2023.

The Average True Range (ATR) for Fortive Corp is set at 1.14, with the Price to Sales ratio for FTV stock in the period of the last 12 months amounting to 4.03. The Price to Book ratio for the last quarter was 2.41, with the Price to Cash per share for the same quarter was set at 2.03. Price to Free Cash Flow for FTV in the course of the last twelve months was 19.22 with Quick ratio for the last quarter at 0.79.

How has FTV stock performed recently?

Fortive Corp [FTV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.70. With this latest performance, FTV shares gained by 5.67% in over the last four-week period, additionally plugging by 5.36% over the last 6 months – not to mention a rise of 5.15% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FTV stock in for the last two-week period is set at 56.87, with the RSI for the last a single of trading hit 68.02, and the three-weeks RSI is set at 50.70 for Fortive Corp [FTV]. The present Moving Average for the last 50 days of trading for this stock 69.97, while it was recorded at 67.84 for the last single week of trading, and 70.36 for the last 200 days.

Fortive Corp [FTV]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Fortive Corp [FTV] shares currently have an operating margin of +17.26 and a Gross Margin at +57.73. Fortive Corp’s Net Margin is presently recorded at +12.96.

Return on Total Capital for FTV is now 7.51, given the latest momentum, and Return on Invested Capital for the company is 6.42. Return on Equity for this stock inclined to 7.87, with Return on Assets sitting at 4.67. When it comes to the capital structure of this company, Fortive Corp [FTV] has a Total Debt to Total Equity ratio set at 35.33. Additionally, FTV Total Debt to Total Capital is recorded at 26.10, with Total Debt to Total Assets ending up at 21.53. Long-Term Debt to Equity for the company is recorded at 24.60, with the Long-Term Debt to Total Capital now at 18.18.

Reflecting on the efficiency of the workforce at the company, Fortive Corp [FTV] managed to generate an average of $41,956 per employee. Receivables Turnover for the company is 6.03 with a Total Asset Turnover recorded at a value of 0.36.Fortive Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.79 and a Current Ratio set at 1.02.

Earnings analysis for Fortive Corp [FTV]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FTV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fortive Corp go to 6.90%.

Insider trade positions for Fortive Corp [FTV]

The top three institutional holders of FTV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in FTV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in FTV stock with ownership which is approximately 5.7994%.