TFO Wealth Partners LLC Raises Holdings in Fortive Co. (NYSE:FTV)

TFO Wealth Partners LLC grew its holdings in Fortive Co. (NYSE:FTV) by 55,392.3% during the fourth quarter, HoldingsChannel reports. The fund owned 7,214 shares of the technology company’s stock after purchasing an additional 7,201 shares during the period. TFO Wealth Partners LLC’s holdings in Fortive were worth $531,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Treasurer of the State of North Carolina increased its holdings in shares of Fortive by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 161,905 shares of the technology company’s stock valued at $11,921,000 after acquiring an additional 1,548 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Fortive in the 4th quarter valued at about $885,000. Eubel Brady & Suttman Asset Management Inc. increased its holdings in shares of Fortive by 1.4% in the 4th quarter. Eubel Brady & Suttman Asset Management Inc. now owns 251,699 shares of the technology company’s stock valued at $18,533,000 after acquiring an additional 3,423 shares during the last quarter. Hsbc Holdings PLC grew its stake in Fortive by 18.6% during the 4th quarter. Hsbc Holdings PLC now owns 1,127,164 shares of the technology company’s stock worth $82,982,000 after buying an additional 176,433 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Fortive by 2.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 130,487 shares of the technology company’s stock worth $9,608,000 after buying an additional 2,840 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.7 %

FTV opened at $73.58 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. The business has a 50 day simple moving average of $79.51 and a 200-day simple moving average of $77.35. The stock has a market capitalization of $25.90 billion, a P/E ratio of 29.08, a P/E/G ratio of 2.14 and a beta of 1.15. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. On average, equities analysts anticipate that Fortive Co. will post 3.8 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s payout ratio is 12.65%.

Wall Street Analyst Weigh In

FTV has been the topic of a number of research reports. Barclays raised their price target on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company dropped their price target on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Truist Financial began coverage on Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. Citigroup decreased their price objective on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Mizuho increased their price objective on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Fortive has an average rating of “Moderate Buy” and an average target price of $86.46.

About Fortive

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.