Ballentine Partners LLC Purchases 217 Shares of Fortive Co. (NYSE:FTV)

Ballentine Partners LLC raised its position in Fortive Co. (NYSE:FTV) by 3.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,445 shares of the technology company’s stock after acquiring an additional 217 shares during the quarter. Ballentine Partners LLC’s holdings in Fortive were worth $478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Advisory Inc. boosted its holdings in shares of Fortive by 13.1% in the fourth quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock worth $557,929,000 after buying an additional 878,523 shares during the last quarter. Boston Partners boosted its stake in shares of Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after acquiring an additional 1,045,245 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Fortive by 47.1% during the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after acquiring an additional 1,999,792 shares during the period. Capital World Investors increased its stake in shares of Fortive by 0.6% in the 4th quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock worth $430,568,000 after purchasing an additional 33,990 shares in the last quarter. Finally, Norges Bank bought a new position in Fortive in the 4th quarter worth $268,686,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Down 0.3 %

FTV opened at $72.11 on Wednesday. The company has a market capitalization of $25.26 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 2.06 and a beta of 1.11. The firm has a 50-day simple moving average of $72.23 and a two-hundred day simple moving average of $76.72. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10.

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

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Truist Financial reduced their price target on Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Morgan Stanley began coverage on shares of Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 target price for the company. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Barclays increased their price objective on shares of Fortive from $91.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company lowered their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortive has an average rating of “Moderate Buy” and a consensus target price of $86.23.

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.