Farther Finance Advisors LLC grew its holdings in shares of Fortive Co. (NYSE:FTV – Free Report) by 200.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,086 shares of the technology company’s stock after purchasing an additional 2,724 shares during the quarter. Farther Finance Advisors LLC’s holdings in Fortive were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Indiana Trust & Investment Management CO bought a new stake in Fortive during the first quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new position in shares of Fortive during the 2nd quarter worth $30,000. International Assets Investment Management LLC bought a new stake in shares of Fortive during the 2nd quarter valued at $30,000. Advisors Asset Management Inc. purchased a new stake in shares of Fortive in the 1st quarter worth $32,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Fortive in the 2nd quarter worth $34,000. Institutional investors own 94.94% of the company’s stock.
Fortive Stock Up 1.5 %
FTV opened at $72.80 on Friday. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $72.29 and a two-hundred day simple moving average of $77.10. The company has a market capitalization of $25.63 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 2.17 and a beta of 1.12.
Fortive Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 17th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.44%. The ex-dividend date is Friday, September 13th. Fortive’s dividend payout ratio is presently 12.65%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on FTV shares. Royal Bank of Canada cut their price target on Fortive from $83.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, July 25th. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Truist Financial reduced their target price on shares of Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, July 25th. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Thursday. Finally, 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.92.
Get Our Latest Research Report on FTV
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.
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