Private Trust Co. NA Sells 308 Shares of Fortive Corporation $FTV

Private Trust Co. NA lessened its holdings in Fortive Corporation (NYSE:FTV) by 23.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,029 shares of the technology company’s stock after selling 308 shares during the period. Private Trust Co. NA’s holdings in Fortive were worth $54,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FTV. Dodge & Cox grew its position in 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 acquiring an additional 14,120,456 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 acquiring an additional 4,382,242 shares during the last quarter. Invesco Ltd. grew its position in 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 acquiring an additional 2,764,432 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Fortive by 4,854.2% during the 1st quarter. Pacer Advisors Inc. now owns 1,451,325 shares of the technology company’s stock worth $106,208,000 after buying an additional 1,422,030 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Fortive during the 1st quarter worth $76,671,000. Institutional investors own 94.94% of the company’s stock.

Fortive Trading Up 1.2%

Shares of NYSE FTV opened at $49.66 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. The stock has a market capitalization of $16.80 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 3.11 and a beta of 1.15. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $83.32. The business has a fifty day moving average price of $48.61 and a 200 day moving average price of $57.76.

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

Fortive Cuts Dividend

The business also recently disclosed 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 dividend yield of 0.5%. The ex-dividend date was Friday, September 12th. Fortive’s dividend payout ratio is 10.81%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and set a $50.00 price target (down previously from $90.00) on shares of Fortive in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $53.00 price target (down previously from $58.00) on shares of Fortive in a research report on Wednesday, October 15th. Mizuho dropped their price target on Fortive from $65.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Royal Bank Of Canada dropped 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. Finally, Weiss Ratings downgraded Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fortive currently has an average rating of “Hold” and an average 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.