Fortive Corporation $FTV Shares Purchased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC boosted its holdings in Fortive Corporation (NYSE:FTV) by 17.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,752 shares of the technology company’s stock after acquiring an additional 847 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Fortive were worth $300,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FTV. Brighton Jones LLC increased its position in Fortive by 97.1% in the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after acquiring an additional 2,811 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Fortive by 11.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company’s stock valued at $790,000 after acquiring an additional 1,076 shares during the period. Bessemer Group Inc. increased its position in Fortive by 46.7% in the 1st quarter. Bessemer Group Inc. now owns 7,571 shares of the technology company’s stock valued at $554,000 after acquiring an additional 2,410 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Fortive by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,207 shares of the technology company’s stock valued at $3,065,000 after acquiring an additional 4,705 shares during the period. Finally, Amalgamated Bank increased its position in Fortive by 0.5% in the 1st quarter. Amalgamated Bank now owns 67,018 shares of the technology company’s stock valued at $4,904,000 after acquiring an additional 313 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on FTV shares. Truist Financial restated a “hold” rating and issued a $55.00 target price (down from $60.00) on shares of Fortive in a research report on Thursday, July 31st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $53.00 target price (down from $58.00) on shares of Fortive in a research report on Wednesday, October 15th. Mizuho lowered 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. Barclays set a $54.00 price target on Fortive and gave the company an “equal weight” rating in a research report on Thursday, August 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $50.00 price target (down from $90.00) on shares of Fortive in a research report on Tuesday, September 2nd. Three research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.14.

Fortive Stock Up 2.3%

Shares of FTV stock opened at $50.28 on Thursday. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The stock has a market cap of $17.01 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 3.12 and a beta of 1.15. The business’s fifty day moving average is $48.73 and its 200-day moving average is $57.24. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98.

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

Fortive Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid 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 (DPR) is currently 10.81%.

Fortive 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.