Caprock Group LLC Has $627,000 Stock Position in Fortive Co. (NYSE:FTV)

Caprock Group LLC increased its holdings in shares of Fortive Co. (NYSE:FTV) by 27.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,458 shares of the technology company’s stock after purchasing an additional 1,835 shares during the period. Caprock Group LLC’s holdings in Fortive were worth $627,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company decreased their price target 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. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research note on Thursday, September 5th. Morgan Stanley assumed coverage on Fortive in a research note on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target for the company. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Barclays boosted their target price on shares of Fortive from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.23.

Fortive Price Performance

Shares of NYSE:FTV opened at $72.51 on Thursday. The firm has a 50 day moving average of $72.23 and a 200-day moving average of $76.69. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $25.40 billion, a PE ratio of 28.66, a PEG ratio of 2.06 and a beta of 1.11.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating 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 business 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 business earned $0.85 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts predict that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

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

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.