Cambridge Advisors Inc. Cuts Stock Holdings in Fortive Co. (NYSE:FTV)

Cambridge Advisors Inc. trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 9.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,922 shares of the technology company’s stock after selling 300 shares during the period. Cambridge Advisors Inc.’s holdings in Fortive were worth $251,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FTV. Indiana Trust & Investment Management CO bought a new stake in Fortive in the 1st quarter valued at about $26,000. Cetera Trust Company N.A purchased a new position in shares of Fortive during the fourth quarter worth about $28,000. Spire Wealth Management grew 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 worth $37,000 after purchasing an additional 208 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of Fortive during the fourth quarter worth about $38,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew 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 worth $40,000 after purchasing an additional 500 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Price Performance

Shares of Fortive stock opened at $74.10 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. The company has a market cap of $26.09 billion, a PE ratio of 29.29, a P/E/G ratio of 2.16 and a beta of 1.13. The business has a 50 day moving average of $75.20 and a 200 day moving average of $78.12. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10.

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

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is 12.65%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Truist Financial assumed coverage on Fortive in a report on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Barclays upped their target price on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup cut their target price on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.46.

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.