In a report released yesterday, Deane Dray from RBC Capital maintained a Hold rating on Fortive (FTV – Research Report), with a price target of $59.00. The company’s shares closed last Wednesday at $52.94.
According to TipRanks.com, Dray is a 4-star analyst with an average return of 1.5% and a 48.9% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Atkore International Group, Emerson Electric Company, and Honeywell International.
Fortive has an analyst consensus of Moderate Buy, with a price target consensus of $77.50.
Based on Fortive’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2 billion and net profit of $193 million. In comparison, last year the company earned revenue of $1.76 billion and had a net profit of $2.11 billion.
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Fortive Corp. is a diversified industrial growth company, which engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the Professional Instrumentation and Industrial Technologies segments. The Professional Instrumentation segment offers software and services used to create actionable intelligence by measuring and monitoring a range of physical parameters in industrial applications. The Industrial Technologies segment comprises of critical technical equipment, components, software, and services for manufacturing, repair, and transportation markets. It also offers panning advanced environmental sensors, fueling equipment; field payment; hardware; remote management and workflow software; vehicle tracking and fleet management software; and signaling solutions for traffic light control. The company was founded on November 10, 2015 and is headquartered in Everett, WA.