Analyst Robert Mason CFA of Robert W. Baird maintained a Buy rating on Fortive (FTV – Research Report), retaining the price target of $85.00.
Robert Mason CFA has given his Buy rating due to a combination of factors that reflect Fortive’s strong financial performance and strategic initiatives. Despite a challenging industrial macroeconomic environment in the third quarter, Fortive has demonstrated robust profit and free cash flow generation, supported by its portfolio transformation which has enhanced margin and free cash flow durability. The company’s AHS segment has shown significant improvement, with core sales and operating margin outlooks upgraded, indicating the business is gaining momentum.
Moreover, Fortive’s commitment to allocate 75% of its free cash flow towards share repurchases before the spin-off of NewCo in the fourth quarter of 2025 provides underlying support for the stock. The company’s earnings per share revisions for the coming years are modest, with expectations of recovery in 2025. Despite some challenges faced by the IOS and PT segments, Fortive’s overall stability, along with promising new product adoption and strategic moves, underpins the positive outlook and supports the Buy rating.
In another report released on November 1, Truist Financial also maintained a Buy rating on the stock with a $89.00 price target.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FTV in relation to earlier this year.
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Fortive (FTV) Company Description:
Incorporated in 2015 and headquartered in Washington, Fortive Corp. is a diversified industrial growth company. The company is engaged 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.
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