Arcus Capital Partners LLC Has $550,000 Stake in Fortive Corporation $FTV

Arcus Capital Partners LLC lowered its holdings in Fortive Corporation (NYSE:FTV) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,542 shares of the technology company’s stock after selling 606 shares during the quarter. Arcus Capital Partners LLC’s holdings in Fortive were worth $550,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Palmer Knight Co boosted its stake in Fortive by 0.4% in the second quarter. Palmer Knight Co now owns 73,001 shares of the technology company’s stock worth $3,806,000 after purchasing an additional 301 shares in the last quarter. Chevy Chase Trust Holdings LLC boosted its stake in Fortive by 0.3% in the second quarter. Chevy Chase Trust Holdings LLC now owns 188,396 shares of the technology company’s stock worth $9,821,000 after purchasing an additional 588 shares in the last quarter. Nordea Investment Management AB boosted its stake in Fortive by 18.9% in the second quarter. Nordea Investment Management AB now owns 1,701,657 shares of the technology company’s stock worth $87,925,000 after purchasing an additional 270,730 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Fortive by 53.5% in the second quarter. Allianz Asset Management GmbH now owns 30,434 shares of the technology company’s stock worth $1,587,000 after purchasing an additional 10,610 shares in the last quarter. Finally, Generali Asset Management SPA SGR boosted its stake in Fortive by 110.4% in the second quarter. Generali Asset Management SPA SGR now owns 41,104 shares of the technology company’s stock worth $2,143,000 after purchasing an additional 21,571 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FTV. Morgan Stanley reaffirmed an “equal weight” rating and set a $50.00 price target (down previously from $90.00) on shares of Fortive in a research note on Tuesday, September 2nd. Wells Fargo & Company cut their price target on Fortive from $72.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 1st. Zacks Research raised Fortive from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Melius lowered Fortive from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a research note on Tuesday, July 22nd. Finally, TD Cowen lowered Fortive from a “buy” rating to a “hold” rating and cut their price target for the company from $85.00 to $50.00 in a research note on Tuesday, July 15th. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Fortive presently has a consensus rating of “Hold” and a consensus target price of $61.14.

Fortive Stock Performance

NYSE FTV opened at $48.69 on Friday. The stock has a 50-day simple moving average of $48.47 and a 200 day simple moving average of $58.15. The company has a market capitalization of $16.47 billion, a PE ratio of 21.93, a P/E/G ratio of 3.08 and a beta of 1.15. 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 12 month low of $46.34 and a 12 month high of $83.32.

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

Fortive Cuts Dividend

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