Kolinsky Wealth Management LLC Decreases Position in Fortive Co. (NYSE:FTV)

Kolinsky Wealth Management LLC lessened its holdings in Fortive Co. (NYSE:FTVFree Report) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,978 shares of the technology company’s stock after selling 300 shares during the period. Kolinsky Wealth Management LLC’s holdings in Fortive were worth $219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FTV. NewEdge Wealth LLC purchased a new position in Fortive in the 3rd quarter valued at approximately $318,000. Atria Wealth Solutions Inc. boosted its position in Fortive by 15.5% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 4,340 shares of the technology company’s stock valued at $322,000 after buying an additional 581 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Fortive by 15.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 13,703 shares of the technology company’s stock worth $1,016,000 after purchasing an additional 1,849 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fortive by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,820,832 shares of the technology company’s stock worth $135,033,000 after purchasing an additional 13,493 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Fortive by 117.7% during the 3rd quarter. Van ECK Associates Corp now owns 34,711 shares of the technology company’s stock worth $2,574,000 after purchasing an additional 18,764 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

Shares of NYSE FTV traded down $0.50 on Friday, hitting $72.75. The company’s stock had a trading volume of 896,926 shares, compared to its average volume of 1,638,054. The stock has a 50 day moving average of $78.05 and a 200-day moving average of $77.61. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. The company has a market capitalization of $25.61 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 2.16 and a beta of 1.13. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10.

Fortive (NYSE:FTVGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. As a group, research analysts predict that Fortive Co. will post 3.8 EPS for the current year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s payout ratio is 12.65%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FTV. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Barclays lifted their price objective on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company decreased their price objective on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Finally, Royal Bank of Canada cut their price target on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Fortive has an average rating of “Moderate Buy” and a consensus target price of $86.46.

Read Our Latest Report on FTV

About Fortive

(Free Report)

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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