Fortive Co. (NYSE:FTV) Position Increased by Meyer Handelman Co.

Meyer Handelman Co. raised its holdings in shares of Fortive Co. (NYSE:FTV) by 73.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,500 shares of the technology company’s stock after buying an additional 11,250 shares during the period. Meyer Handelman Co.’s holdings in Fortive were worth $2,280,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cetera Trust Company N.A bought a new stake in Fortive during the fourth quarter worth approximately $28,000. Spire Wealth Management lifted its position in shares of Fortive by 69.3% in the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after acquiring an additional 208 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Fortive in the 4th quarter valued at approximately $38,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Fortive by 1,162.8% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 543 shares of the technology company’s stock valued at $40,000 after acquiring an additional 500 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Fortive in the 4th quarter valued at approximately $43,000. 94.94% of the stock is currently owned by institutional investors.

Fortive Stock Up 0.9 %

Fortive stock opened at $73.60 on Friday. The company has a market capitalization of $25.91 billion, a P/E ratio of 29.09, a P/E/G ratio of 2.14 and a beta of 1.13. The firm’s fifty day simple moving average is $75.89 and its 200-day simple moving average is $78.03. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. Sell-side analysts forecast that Fortive Co. will post 3.8 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Fortive’s dividend payout ratio is currently 12.65%.

Wall Street Analyst Weigh In

Several brokerages recently commented on FTV. Barclays upped their price target on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reduced their price target on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, April 25th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $95.00 to $90.00 in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company cut their target price 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. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Fortive currently has an average rating of “Moderate Buy” and a consensus price target of $86.46.

Fortive Company 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.