Appleton Partners Inc. MA Sells 170 Shares of Fortive Co. (NYSE:FTV)

Appleton Partners Inc. MA lessened its holdings in Fortive Co. (NYSE:FTV) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,840 shares of the technology company’s stock after selling 170 shares during the quarter. Appleton Partners Inc. MA’s holdings in Fortive were worth $416,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. HighPoint Advisor Group LLC bought a new position in Fortive during the 4th quarter worth $180,000. PNC Financial Services Group Inc. lifted its stake in shares of Fortive by 1.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 138,643 shares of the technology company’s stock worth $10,208,000 after acquiring an additional 2,026 shares during the period. Wahed Invest LLC boosted its holdings in Fortive by 8.5% in the fourth quarter. Wahed Invest LLC now owns 6,033 shares of the technology company’s stock valued at $444,000 after acquiring an additional 471 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Fortive during the 4th quarter valued at approximately $48,000. Finally, Brown Shipley& Co Ltd raised its holdings in Fortive by 7.4% during the 4th quarter. Brown Shipley& Co Ltd now owns 48,332 shares of the technology company’s stock worth $3,559,000 after purchasing an additional 3,310 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Down 0.4 %

Shares of NYSE:FTV traded down $0.32 during mid-day trading on Tuesday, hitting $72.89. 168,943 shares of the company traded hands, compared to its average volume of 1,605,712. The stock has a 50-day moving average price of $76.70 and a two-hundred day moving average price of $77.97. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The stock has a market cap of $25.66 billion, a P/E ratio of 28.94, a P/E/G ratio of 2.13 and a beta of 1.13. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38.

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

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, May 31st. Fortive’s payout ratio is currently 12.65%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FTV. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Citigroup decreased their price target on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Wells Fargo & Company dropped their price objective 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 initiated coverage on Fortive in a research note on Thursday, March 14th. They set a “buy” rating and a $99.00 target price for the company. Finally, Royal Bank of Canada cut their price target on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.46.

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.