Fortive Corporation $FTV Stake Trimmed by Blair William & Co. IL

Blair William & Co. IL cut its position in shares of Fortive Corporation (NYSE:FTV) by 6.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 269,662 shares of the technology company’s stock after selling 17,233 shares during the quarter. Blair William & Co. IL’s holdings in Fortive were worth $14,057,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in FTV. Accent Capital Management LLC purchased a new stake in shares of Fortive in the 1st quarter valued at approximately $26,000. Global X Japan Co. Ltd. raised its stake in Fortive by 114.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company’s stock valued at $28,000 after purchasing an additional 201 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares in the last quarter. Capital Analysts LLC boosted its position in shares of Fortive by 41.0% in the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after buying an additional 152 shares during the period. Finally, Banque Transatlantique SA grew its holdings in shares of Fortive by 92.8% during the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock valued at $38,000 after buying an additional 270 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Down 2.9%

Fortive stock opened at $47.87 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $83.32. The firm’s fifty day simple moving average is $48.35 and its 200-day simple moving average is $59.13. The company has a market capitalization of $16.20 billion, a P/E ratio of 21.56, a P/E/G ratio of 3.13 and a beta of 1.15.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. Fortive had a net margin of 13.62% and a return on equity of 11.96%. The firm had revenue of $1.07 billion during the quarter. Sell-side analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on Fortive from $87.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Cowen cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, July 15th. Raymond James Financial dropped their price objective on shares of Fortive from $90.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 1st. Barclays set a $54.00 target price on shares of Fortive and gave the company an “equal weight” rating in a research note on Thursday, August 14th. Finally, Weiss Ratings downgraded shares of Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.79.

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.