Fortive Corporation $FTV Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group trimmed its holdings in shares of Fortive Corporation (NYSE:FTV) by 45.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,250 shares of the technology company’s stock after selling 3,539 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Fortive were worth $222,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brookstone Capital Management increased its position in shares of Fortive by 5.4% during the second quarter. Brookstone Capital Management now owns 50,996 shares of the technology company’s stock worth $2,658,000 after acquiring an additional 2,600 shares during the last quarter. FNY Investment Advisers LLC increased its position in shares of Fortive by 4,419.5% during the second quarter. FNY Investment Advisers LLC now owns 36,156 shares of the technology company’s stock worth $1,884,000 after acquiring an additional 35,356 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Fortive by 2.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 155,967 shares of the technology company’s stock worth $8,130,000 after acquiring an additional 3,503 shares during the last quarter. Whittier Trust Co. increased its position in shares of Fortive by 6.8% during the second quarter. Whittier Trust Co. now owns 354,784 shares of the technology company’s stock worth $18,494,000 after acquiring an additional 22,443 shares during the last quarter. Finally, Palmer Knight Co increased its position in shares of Fortive by 0.4% during the second quarter. Palmer Knight Co now owns 73,001 shares of the technology company’s stock worth $3,806,000 after acquiring an additional 301 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on FTV shares. Mizuho dropped their target price on Fortive from $65.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Weiss Ratings lowered Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Wall Street Zen raised Fortive to a “hold” rating in a report on Friday, September 5th. Raymond James Financial lowered their price objective on Fortive from $90.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, July 1st. Finally, Royal Bank Of Canada lowered their price objective on Fortive from $58.00 to $56.00 and set a “sector perform” rating for the company in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.14.

Fortive Stock Down 0.3%

Shares of Fortive stock opened at $49.46 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 0.28. The firm has a market cap of $16.74 billion, a P/E ratio of 22.28, a P/E/G ratio of 3.15 and a beta of 1.15. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The business has a 50-day moving average price of $48.63 and a 200 day moving average price of $57.67.

Fortive (NYSE:FTV) last posted its earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. The company 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%. On average, 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. Stockholders of record on Friday, September 12th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Fortive’s dividend payout ratio is 10.81%.

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.