B. Riley Wealth Advisors Inc. Lowers Position in Fortive Co. (NYSE:FTV)

B. Riley Wealth Advisors Inc. cut its stake in Fortive Co. (NYSE:FTV) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,071 shares of the technology company’s stock after selling 557 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Fortive were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FTV. Cetera Trust Company N.A purchased a new stake in Fortive in the fourth quarter worth about $28,000. Spire Wealth Management lifted its holdings in shares of Fortive by 69.3% during the fourth quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after purchasing an additional 208 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Fortive during the fourth quarter valued at approximately $38,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Fortive by 1,162.8% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 543 shares of the technology company’s stock valued at $40,000 after purchasing an additional 500 shares during the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of Fortive during the fourth quarter valued at approximately $43,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FTV shares. Wells Fargo & Company lowered their target price on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Truist Financial started coverage on shares of Fortive in a report on Thursday, March 14th. They set a “buy” rating and a $99.00 target price for the company. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Citigroup reduced their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Barclays raised 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. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Fortive currently has an average rating of “Moderate Buy” and an average target price of $86.46.

Fortive Trading Up 0.7 %

NYSE:FTV opened at $73.57 on Friday. 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 12 month low of $63.05 and a 12 month high of $87.10. The company has a market cap of $25.90 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. The company has a 50 day simple moving average of $75.44 and a two-hundred day simple moving average of $78.12.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate 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%. Research analysts forecast that Fortive Co. will post 3.8 earnings per share for the current year.

Fortive Announces Dividend

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 paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio is presently 12.65%.

About Fortive

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.