|Bid||69.10 x 800|
|Ask||69.19 x 1000|
|Day's Range||66.98 - 70.00|
|52 Week Range||31.22 - 74.25|
|Beta (5Y Monthly)||1.22|
|PE Ratio (TTM)||15.32|
|Earnings Date||Apr 28, 2021 - May 03, 2021|
|Forward Dividend & Yield||0.28 (0.42%)|
|Ex-Dividend Date||Feb 25, 2021|
|1y Target Est||76.53|
The technology sector is comprised of businesses that sell goods and services in electronics, software, computers, artificial intelligence (AI), and other industries related to information technology (IT). The sector includes companies with the largest market capitalizations in the world such as Apple Inc. (AAPL), Microsoft Corp. (MSFT), and Amazon.com Inc. (AMZN). Tech stocks, represented by the Technology Select Sector SPDR ETF (XLK), have outperformed the broader market.
Activist investor's largest new purchase was in Upstart Holdings
Fortive Corp (NYSE: FTV) is poised for continued recovery in its core business and earnings accretion from deals over the next 12 to 18 months, according to Morgan Stanley, which downgraded the stock on a valuation basis Wednesday. The Fortive Anlayst: Joshua Pokrzywinski downgraded Fortive from Overweight to Equal-Weight and maintained the price target at $75. The Fortive Thesis: Following a substantial rerating of the company’s stock, the risk-reward seems “more balanced,” Pokrzywinski said in the downgrade note. “The company's short-cycle markets are inflecting and posted solid upside in 4Q,” the analyst said, while expressing optimism around Fortive’s prospects over the next 12 to 18 months. “That said, we see less upside from multiple expansion due to derating of other premium peers, less differentiated medium-term revenue growth versus other cyclicals, and some risk that M&A is viewed as too expensive given a focus on premium/software assets,” he said. “As cyclical and thematic forces become better reflected elsewhere in industrials, we see FTV's through-the-cycle quality as coming back into focus.” FTV Price Action: Shares of Fortive were down 3.9% at $67.09 at last check. (Photo: Fortive) Latest Ratings for FTV DateFirmActionFromTo Feb 2021Morgan StanleyDowngradesOverweightEqual-Weight Feb 2021CitigroupMaintainsBuy Jan 2021Morgan StanleyMaintainsOverweight View More Analyst Ratings for FTV View the Latest Analyst Ratings See more from BenzingaClick here for options trades from BenzingaDeutsche Bank Upgrades Albemarle On Lithium Earnings PotentialMorgan Stanley Upgrades Anaplan On Improving Demand, Execution Consistency© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.