Fortive Co. (NYSE:FTV) Position Cut by Blue Trust Inc.

Blue Trust Inc. trimmed its stake in Fortive Co. (NYSE:FTV) by 36.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,129 shares of the technology company’s stock after selling 649 shares during the quarter. Blue Trust Inc.’s holdings in Fortive were worth $85,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in FTV. Capital Performance Advisors LLP bought a new stake in Fortive in the third quarter valued at $25,000. Versant Capital Management Inc raised its stake in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Fortive during the fourth quarter valued at about $37,000. Albion Financial Group UT bought a new stake in shares of Fortive during the fourth quarter valued at about $38,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Fortive during the third quarter valued at about $57,000. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Barclays lowered their target price on 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 price target on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Truist Financial lifted their price target on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Fortive currently has an average rating of “Moderate Buy” and an average price target of $87.64.

Fortive Trading Down 2.2 %

Shares of NYSE FTV opened at $80.03 on Monday. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The firm has a market capitalization of $27.77 billion, a PE ratio of 33.91, a PEG ratio of 2.68 and a beta of 1.15. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $78.20 and a two-hundred day moving average price of $76.20.

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 last year, the firm posted $0.98 earnings per share. As a group, analysts predict that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm 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 dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s 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.