Wealth Enhancement Advisory Services LLC Trims Stake in Fortive Co. (NYSE:FTV)

Wealth Enhancement Advisory Services LLC lowered its holdings in Fortive Co. (NYSE:FTV) by 22.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,269 shares of the technology company’s stock after selling 11,142 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Fortive were worth $3,378,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of FTV. Cetera Trust Company N.A purchased a new stake in Fortive in the fourth quarter valued at approximately $28,000. Spire Wealth Management raised its position in shares of Fortive by 69.3% during the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after buying an additional 208 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Fortive during the 4th quarter worth $38,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in Fortive by 1,162.8% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 543 shares of the technology company’s stock worth $40,000 after acquiring an additional 500 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new position in Fortive in the fourth quarter valued at $43,000. Institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

Shares of Fortive stock opened at $72.30 on Wednesday. The company has a market cap of $25.45 billion, a PE ratio of 28.58, a P/E/G ratio of 2.17 and a beta of 1.12. The business has a 50 day moving average of $75.04 and a 200 day moving average of $78.21. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping 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 net margin of 14.68% and a return on equity of 12.22%. 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 announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, May 31st. Fortive’s dividend payout ratio is currently 12.65%.

Analyst Ratings Changes

A number of research firms have recently issued reports on FTV. Royal Bank of Canada cut their price objective on Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a report on Thursday, April 25th. Truist Financial reduced their price target on shares of Fortive from $96.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered their price objective 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. Barclays increased their target price on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average price target of $85.69.

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.