Kentucky Trust Co Takes $648,000 Position in Fortive Co. (NYSE:FTV)

Kentucky Trust Co acquired a new stake in shares of Fortive Co. (NYSE:FTV) during the 4th quarter, Holdings Channel reports. The fund acquired 8,635 shares of the technology company’s stock, valued at approximately $648,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James & Associates raised its position in shares of Fortive by 15.0% during the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after purchasing an additional 51,690 shares during the period. First Hawaiian Bank raised its position in shares of Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 10,125 shares during the period. Principal Financial Group Inc. raised its position in shares of Fortive by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after purchasing an additional 10,795 shares during the period. XTX Topco Ltd bought a new stake in shares of Fortive during the 3rd quarter valued at $1,346,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Fortive by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock valued at $2,832,000 after purchasing an additional 7,829 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Fortive Stock Performance

Shares of NYSE:FTV opened at $80.14 on Wednesday. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The stock has a market capitalization of $27.80 billion, a P/E ratio of 31.93, a PEG ratio of 2.14 and a beta of 1.15. The firm has a fifty day simple moving average of $77.69 and a two-hundred day simple moving average of $75.47. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last released its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, analysts expect that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio is presently 12.75%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday. Barclays cut their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Truist Financial raised their target price on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Finally, Wells Fargo & Company raised their target price on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.64.

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.