Soltis Investment Advisors LLC Decreases Stock Holdings in Fortive Co. (NYSE:FTV)

Soltis Investment Advisors LLC trimmed its position in shares of Fortive Co. (NYSE:FTV) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,022 shares of the technology company’s stock after selling 410 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Fortive were worth $602,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Visionary Horizons LLC lifted its position in shares of Fortive by 26.4% during the fourth quarter. Visionary Horizons LLC now owns 4,366 shares of the technology company’s stock valued at $327,000 after buying an additional 912 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Fortive by 14.4% during the fourth quarter. Empowered Funds LLC now owns 6,189 shares of the technology company’s stock valued at $464,000 after acquiring an additional 779 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Fortive by 30.5% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 7,534 shares of the technology company’s stock valued at $565,000 after acquiring an additional 1,762 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Fortive by 1.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,380 shares of the technology company’s stock valued at $3,404,000 after acquiring an additional 627 shares in the last quarter. Finally, YANKCOM Partnership acquired a new position in shares of Fortive during the fourth quarter valued at about $298,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Trading Up 1.8 %

Shares of NYSE:FTV opened at $80.54 on Tuesday. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The firm has a market capitalization of $27.94 billion, a price-to-earnings ratio of 32.09, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The business’s 50 day moving average price is $77.65 and its 200-day moving average price is $75.40.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts forecast that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s payout ratio is currently 13.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FTV. Wells Fargo & Company upped their price objective on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday. Truist Financial increased their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and cut their price target for the stock from $92.00 to $86.00 in a report on Monday, December 9th. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday. Finally, Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.64.

About Fortive

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.