RFG Advisory LLC Boosts Stock Position in Fortive Co. (NYSE:FTV)

RFG Advisory LLC grew its holdings in shares of Fortive Co. (NYSE:FTV) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,200 shares of the technology company’s stock after buying an additional 316 shares during the quarter. RFG Advisory LLC’s holdings in Fortive were worth $705,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new position in Fortive during the 4th quarter valued at $268,686,000. Brown Advisory Inc. raised its stake in shares of Fortive by 13.1% in the 4th quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock valued at $557,929,000 after purchasing an additional 878,523 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of Fortive by 15,382.4% during the fourth quarter. Panagora Asset Management Inc. now owns 634,778 shares of the technology company’s stock worth $46,739,000 after purchasing an additional 630,678 shares during the last quarter. Jennison Associates LLC grew its stake in Fortive by 111.7% in the fourth quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company’s stock worth $86,637,000 after purchasing an additional 620,866 shares in the last quarter. Finally, Kodai Capital Management LP bought a new stake in Fortive in the fourth quarter valued at about $45,557,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

Shares of NYSE:FTV opened at $73.60 on Monday. The firm’s 50 day moving average is $75.89 and its two-hundred day moving average is $78.09. The firm has a market capitalization of $25.91 billion, a P/E ratio of 29.09, a PEG ratio of 2.14 and a beta of 1.13. 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 52 week low of $63.05 and a 52 week high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings data 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 analysts’ expectations of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. Analysts anticipate that Fortive Co. will post 3.8 earnings per share for the current year.

Fortive Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on FTV shares. Royal Bank of Canada reduced their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, April 25th. Barclays lifted their price objective on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Citigroup decreased their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Truist Financial started coverage on shares of Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.46.

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.