Financial Counselors Inc. Grows Stock Position in Fortive Co. (NYSE:FTV)

Financial Counselors Inc. raised its holdings in shares of Fortive Co. (NYSE:FTV) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 163,782 shares of the technology company’s stock after purchasing an additional 3,949 shares during the period. Financial Counselors Inc.’s holdings in Fortive were worth $12,136,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO purchased a new stake in shares of Fortive in the first quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in Fortive in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC purchased a new position in Fortive in the 2nd quarter valued at about $30,000. Advisors Asset Management Inc. acquired a new stake in shares of Fortive during the 1st quarter worth about $32,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Fortive during the second quarter worth about $34,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on FTV. Barclays reduced their price objective on shares of Fortive from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Wells Fargo & Company lowered their price objective on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada reduced their target price on Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 25th. Finally, StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $84.91.

Fortive Stock Up 0.9 %

Shares of NYSE:FTV opened at $74.40 on Tuesday. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10. The stock has a 50-day simple moving average of $72.34 and a 200-day simple moving average of $77.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The stock has a market capitalization of $26.19 billion, a P/E ratio of 29.41, a PEG ratio of 2.17 and a beta of 1.12.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. Fortive’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts forecast that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 17th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s dividend payout ratio is currently 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.