Allspring Global Investments Holdings LLC Reduces Stock Holdings in Fortive Co. (NYSE:FTV)

Allspring Global Investments Holdings LLC cut its position in shares of Fortive Co. (NYSE:FTV) by 3.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,065 shares of the technology company’s stock after selling 892 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Fortive were worth $1,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC raised its position in shares of Fortive by 3.6% during the 3rd quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock valued at $308,000 after buying an additional 135 shares during the period. Wedmont Private Capital raised its position in Fortive by 4.3% in the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock valued at $252,000 after purchasing an additional 137 shares during the period. Patton Albertson Miller Group LLC lifted its stake in shares of Fortive by 1.7% in the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after purchasing an additional 150 shares during the last quarter. Andina Capital Management LLC grew its holdings in shares of Fortive by 3.4% during the 3rd quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock worth $362,000 after purchasing an additional 152 shares during the period. Finally, Atria Investments Inc increased its position in shares of Fortive by 1.6% during the 3rd quarter. Atria Investments Inc now owns 10,591 shares of the technology company’s stock worth $836,000 after purchasing an additional 163 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on FTV shares. JPMorgan Chase & Co. decreased their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Barclays decreased their price objective on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company lifted their target price on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Argus restated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Finally, StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

Fortive Trading Down 2.2 %

NYSE:FTV opened at $80.03 on Friday. The stock has a fifty day moving average price of $78.20 and a 200 day moving average price of $76.13. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The firm has a market cap of $27.77 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Sell-side analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio is presently 13.56%.

Fortive Profile

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.