Mirador Capital Partners LP Grows Position in Fortive Co. (NYSE:FTV)

Mirador Capital Partners LP raised its position in Fortive Co. (NYSE:FTV) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,451 shares of the technology company’s stock after purchasing an additional 218 shares during the quarter. Mirador Capital Partners LP’s holdings in Fortive were worth $899,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FTV. Wellington Management Group LLP raised its holdings in shares of Fortive by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock valued at $1,415,902,000 after buying an additional 181,948 shares during the period. Flossbach Von Storch AG grew its stake in Fortive by 4.8% during the 4th quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock valued at $817,873,000 after purchasing an additional 512,414 shares in the last quarter. Brown Advisory Inc. grew its stake in Fortive by 13.1% during 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. Capital World Investors grew its stake in Fortive by 0.6% during the 4th quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock valued at $430,568,000 after purchasing an additional 33,990 shares in the last quarter. Finally, Norges Bank acquired a new stake in Fortive during the 4th quarter valued at approximately $268,686,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Trading Down 0.1 %

Shares of NYSE:FTV traded down $0.11 during midday trading on Monday, reaching $73.99. The company had a trading volume of 27,066 shares, compared to its average volume of 1,641,816. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10. The firm has a market cap of $26.05 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 2.17 and a beta of 1.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. The company has a fifty day simple moving average of $75.20 and a two-hundred day simple moving average of $78.21.

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

Fortive Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on FTV shares. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $95.00 to $90.00 in a research note on Wednesday, April 17th. Wells Fargo & Company decreased their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Citigroup decreased their target price on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Truist Financial initiated coverage on Fortive in a research report on Thursday, March 14th. They issued a “buy” rating and a $99.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.