Victory Capital Management Inc. cut its stake in Fortive Co. (NYSE:FTV – Free Report) by 1.1% in the second quarter, Holdings Channel.com reports. The firm owned 148,397 shares of the technology company’s stock after selling 1,631 shares during the quarter. Victory Capital Management Inc.’s holdings in Fortive were worth $10,996,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its holdings in shares of Fortive by 4.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock worth $201,000 after buying an additional 126 shares in the last quarter. Lipe & Dalton boosted its position in Fortive by 1.9% during the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after acquiring an additional 130 shares during the last quarter. RDA Financial Network grew its stake in shares of Fortive by 3.4% during the 2nd quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after acquiring an additional 138 shares in the last quarter. Pitcairn Co. raised its holdings in shares of Fortive by 1.3% in the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after purchasing an additional 139 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of Fortive by 0.8% in the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after purchasing an additional 146 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.
Fortive Stock Up 0.4 %
Shares of FTV opened at $73.60 on Friday. The firm has a market cap of $25.79 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. 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 52 week low of $63.05 and a 52 week high of $87.10. The firm’s 50-day simple moving average is $72.28 and its 200 day simple moving average is $76.51.
Fortive Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Fortive’s payout ratio is presently 12.65%.
Analyst Ratings Changes
A number of research firms recently weighed in on FTV. Wells Fargo & Company decreased 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. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 target price on shares of Fortive in a report on Friday, September 6th. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Truist Financial cut their price objective 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 assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $86.23.
Get Our Latest Report on Fortive
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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