Whittier Trust Co. of Nevada Inc. Purchases 3,503 Shares of Fortive Corporation $FTV

Whittier Trust Co. of Nevada Inc. increased its position in shares of Fortive Corporation (NYSE:FTV) by 2.3% during the second quarter, HoldingsChannel reports. The fund owned 155,967 shares of the technology company’s stock after buying an additional 3,503 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Fortive were worth $8,130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Dodge & Cox grew its position in shares of Fortive by 181.5% in the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock valued at $1,602,669,000 after buying an additional 14,120,456 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Fortive by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock valued at $959,567,000 after buying an additional 4,382,242 shares during the last quarter. Invesco Ltd. grew its position in shares of Fortive by 96.6% in the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock valued at $411,781,000 after buying an additional 2,764,432 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Fortive by 4,854.2% in the 1st quarter. Pacer Advisors Inc. now owns 1,451,325 shares of the technology company’s stock valued at $106,208,000 after buying an additional 1,422,030 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Fortive in the 1st quarter valued at about $76,671,000. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 1.3%

FTV stock opened at $49.30 on Tuesday. The stock’s 50 day simple moving average is $48.52 and its 200 day simple moving average is $57.98. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. The company has a market cap of $16.68 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 3.09 and a beta of 1.15.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The business had revenue of $1.07 billion for the quarter. On average, research analysts expect that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Fortive’s dividend payout ratio is 10.81%.

Analysts Set New Price Targets

A number of research firms have commented on FTV. Truist Financial reiterated a “hold” rating and issued a $55.00 price target (down previously from $60.00) on shares of Fortive in a research report on Thursday, July 31st. Royal Bank Of Canada reduced their price target on Fortive from $58.00 to $56.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 31st. Cowen lowered Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, July 15th. Raymond James Financial dropped their price objective on Fortive from $90.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 1st. Finally, Melius Research raised Fortive to a “hold” rating in a research note on Tuesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $61.14.

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.