Moors & Cabot Inc. decreased its position in shares of Fortive Co. (NYSE:FTV – Free Report) by 12.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,150 shares of the technology company’s stock after selling 450 shares during the quarter. Moors & Cabot Inc.’s holdings in Fortive were worth $236,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Fortive by 95,666.8% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 88,663,752 shares of the technology company’s stock worth $6,629,389,000 after acquiring an additional 88,571,169 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Fortive by 2.7% in the first quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock valued at $2,288,355,000 after buying an additional 989,883 shares during the period. BlackRock Inc. boosted its holdings in shares of Fortive by 0.9% in the first quarter. BlackRock Inc. now owns 30,824,840 shares of the technology company’s stock valued at $2,101,329,000 after buying an additional 282,248 shares during the period. FMR LLC boosted its holdings in shares of Fortive by 7.3% in the first quarter. FMR LLC now owns 18,321,854 shares of the technology company’s stock valued at $1,249,001,000 after buying an additional 1,248,629 shares during the period. Finally, Flossbach Von Storch AG boosted its holdings in shares of Fortive by 3.8% in the first quarter. Flossbach Von Storch AG now owns 10,594,444 shares of the technology company’s stock valued at $722,223,000 after buying an additional 389,746 shares during the period. Institutional investors own 95.95% of the company’s stock.
Fortive Stock Performance
NYSE FTV opened at $67.68 on Tuesday. The firm has a market capitalization of $23.79 billion, a P/E ratio of 29.05 and a beta of 1.15. The firm’s fifty day moving average price is $71.11 and its two-hundred day moving average price is $72.22. Fortive Co. has a 1 year low of $62.70 and a 1 year high of $79.90. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.20.
Fortive Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This is an increase from Fortive’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 0.47%. Fortive’s dividend payout ratio is 13.73%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on FTV shares. Wells Fargo & Company reduced their price target on shares of Fortive from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, October 26th. TD Cowen upped their price target on shares of Fortive from $70.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, August 23rd. Robert W. Baird upped their price target on shares of Fortive from $82.00 to $85.00 in a report on Thursday, July 27th. Mizuho cut their price objective on shares of Fortive from $70.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, October 26th. Finally, BNP Paribas assumed coverage on shares of Fortive in a research report on Thursday, October 5th. They issued an “outperform” rating and a $91.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.46.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.
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