Rhumbline Advisers Trims Stock Holdings in Fortive Co. (NYSE:FTV)

Rhumbline Advisers decreased its holdings in Fortive Co. (NYSE:FTV) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 640,564 shares of the technology company’s stock after selling 14,998 shares during the period. Rhumbline Advisers owned 0.18% of Fortive worth $47,468,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FTV. International Assets Investment Management LLC purchased a new position in Fortive during the fourth quarter valued at approximately $2,218,000. National Bank of Canada FI grew its stake in Fortive by 9.2% during the fourth quarter. National Bank of Canada FI now owns 82,159 shares of the technology company’s stock valued at $5,938,000 after acquiring an additional 6,913 shares in the last quarter. Spire Wealth Management grew its stake in 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 acquiring an additional 208 shares in the last quarter. Private Advisor Group LLC purchased a new position in Fortive during the fourth quarter valued at approximately $283,000. Finally, Lincoln National Corp grew its stake in Fortive by 8.2% during the fourth quarter. Lincoln National Corp now owns 5,412 shares of the technology company’s stock valued at $399,000 after acquiring an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Up 1.5 %

Shares of FTV opened at $72.80 on Friday. The firm has a market cap of $25.63 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 2.17 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The firm has a 50 day moving average price of $72.29 and a 200-day moving average price of $77.10.

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

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 17th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, September 13th. Fortive’s payout ratio is 12.65%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FTV shares. Barclays reduced their price objective on shares of Fortive from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Wells Fargo & Company dropped their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Thursday. Royal Bank of Canada dropped their target price on shares of Fortive from $83.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, July 25th. Finally, StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.92.

Fortive Company 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.