Sentry Investment Management LLC Decreases Position in Fortive Co. (NYSE:FTV)

Sentry Investment Management LLC trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 17.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,540 shares of the technology company’s stock after selling 316 shares during the period. Sentry Investment Management LLC’s holdings in Fortive were worth $114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB boosted its holdings in Fortive by 70.1% during the 1st quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock valued at $77,058,000 after acquiring an additional 369,351 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Fortive by 104.3% during the first quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock valued at $31,748,000 after purchasing an additional 188,415 shares during the period. California State Teachers Retirement System grew its holdings in shares of Fortive by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 577,159 shares of the technology company’s stock worth $42,496,000 after purchasing an additional 13,251 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Fortive by 599.3% in the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock worth $4,520,000 after buying an additional 45,032 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Fortive by 6.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock valued at $23,719,000 after buying an additional 17,225 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FTV shares. Barclays raised their price target on shares of Fortive from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $90.00 in a report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $77.00 price target on shares of Fortive in a research report on Friday, September 6th. Wells Fargo & Company cut their price objective on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Truist Financial decreased their target price on Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.23.

Fortive Trading Up 1.2 %

NYSE:FTV opened at $73.40 on Friday. The firm has a market capitalization of $25.84 billion, a P/E ratio of 29.01, a PEG ratio of 2.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The company’s 50-day simple moving average is $72.25 and its 200 day simple moving average is $76.67.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping 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 firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts forecast that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th will be given 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 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.