Fortive Co. (NYSE:FTV) Shares Acquired by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC raised its holdings in shares of Fortive Co. (NYSE:FTV) by 10.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,432 shares of the technology company’s stock after purchasing an additional 415 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Fortive were worth $381,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Indiana Trust & Investment Management CO acquired a new position in shares of Fortive during the first quarter worth $26,000. Cetera Trust Company N.A acquired a new position in shares of Fortive in the 4th quarter valued at $28,000. Spire Wealth Management increased its position in shares of Fortive by 69.3% in the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after acquiring an additional 208 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Fortive in the 4th quarter valued at $38,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Fortive by 1,162.8% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 543 shares of the technology company’s stock valued at $40,000 after acquiring an additional 500 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FTV has been the topic of several research reports. Wells Fargo & Company cut their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Barclays upped their target price on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Citigroup lowered their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Finally, Royal Bank of Canada lowered their price target on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, April 25th. 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.46.

Fortive Price Performance

Fortive stock traded up $0.53 during midday trading on Friday, reaching $74.10. The company had a trading volume of 3,271,187 shares, compared to its average volume of 1,556,272. The company has a market capitalization of $26.09 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.16 and a beta of 1.13. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The firm’s fifty day simple moving average is $75.20 and its 200-day simple moving average is $78.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17.

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

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Friday, May 31st. Fortive’s dividend payout ratio is presently 12.65%.

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.