Fortive Co. (NYSE:FTV) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning lessened its stake in Fortive Co. (NYSE:FTV) by 16.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,376 shares of the technology company’s stock after selling 2,351 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Fortive were worth $1,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its stake in Fortive by 4.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock worth $201,000 after acquiring an additional 126 shares during the last quarter. Edgemoor Investment Advisors Inc. increased its stake in Fortive by 4.8% during the fourth quarter. Edgemoor Investment Advisors Inc. now owns 3,249 shares of the technology company’s stock worth $239,000 after acquiring an additional 150 shares during the last quarter. Fulton Bank N.A. increased its stake in Fortive by 3.4% during the first quarter. Fulton Bank N.A. now owns 4,580 shares of the technology company’s stock worth $394,000 after acquiring an additional 151 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Fortive by 17.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock worth $80,000 after buying an additional 167 shares during the period. Finally, Redmond Asset Management LLC boosted its position in shares of Fortive by 1.4% during the fourth quarter. Redmond Asset Management LLC now owns 13,386 shares of the technology company’s stock worth $986,000 after buying an additional 179 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FTV. Wells Fargo & Company decreased their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Barclays lifted their price target on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a 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. Finally, JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.69.

Fortive Trading Down 0.1 %

Shares of FTV opened at $72.25 on Wednesday. The stock has a fifty day moving average of $75.04 and a two-hundred day moving average of $78.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. The company has a market capitalization of $25.43 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 2.17 and a beta of 1.12. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV) last issued its 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 analysts’ expectations of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. As a group, analysts forecast that Fortive Co. will post 3.8 EPS for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 0.44%. Fortive’s payout ratio is 12.65%.

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.