Fortive Co. (NYSE:FTV) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in shares of Fortive Co. (NYSE:FTV) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 592,419 shares of the technology company’s stock after selling 14,918 shares during the quarter. Rhumbline Advisers owned about 0.17% of Fortive worth $44,434,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Bull Street Advisors LLC lifted its position in shares of Fortive by 3.5% during the 4th quarter. Bull Street Advisors LLC now owns 18,562 shares of the technology company’s stock worth $1,392,000 after buying an additional 620 shares during the last quarter. Vontobel Holding Ltd. lifted its position in shares of Fortive by 4.7% during the 4th quarter. Vontobel Holding Ltd. now owns 6,148 shares of the technology company’s stock worth $461,000 after buying an additional 276 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Fortive by 129.2% during the 4th quarter. Van ECK Associates Corp now owns 73,633 shares of the technology company’s stock worth $5,522,000 after buying an additional 41,506 shares during the last quarter. Kentucky Trust Co purchased a new stake in shares of Fortive during the 4th quarter worth approximately $648,000. Finally, Essex Financial Services Inc. lifted its position in shares of Fortive by 18.3% during the 4th quarter. Essex Financial Services Inc. now owns 3,171 shares of the technology company’s stock worth $238,000 after buying an additional 491 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of FTV opened at $80.59 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The stock has a market capitalization of $27.96 billion, a P/E ratio of 32.11, a P/E/G ratio of 2.14 and a beta of 1.15. The company’s fifty day moving average is $77.83 and its two-hundred day moving average is $75.73. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, sell-side analysts predict that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FTV. Truist Financial boosted their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company upped their price target on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Argus reiterated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. UBS Group assumed coverage on shares of Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Fortive currently has an average rating of “Moderate Buy” and an average price target of $87.64.

Fortive 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.