Hazlett Burt & Watson Inc. Makes New Investment in Fortive Co. (NYSE:FTV)

Hazlett Burt & Watson Inc. purchased a new position in Fortive Co. (NYSE:FTV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 500 shares of the technology company’s stock, valued at approximately $37,000.

A number of other large investors also recently modified their holdings of FTV. Indiana Trust & Investment Management CO bought a new position in shares of Fortive in the 1st quarter worth about $26,000. Ridgewood Investments LLC bought a new position in shares of Fortive in the 2nd quarter worth about $30,000. International Assets Investment Management LLC bought a new position in shares of Fortive in the 2nd quarter worth about $30,000. Advisors Asset Management Inc. bought a new position in shares of Fortive in the 1st quarter worth about $32,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Fortive in the 2nd quarter worth about $34,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FTV. Wells Fargo & Company reduced their price target on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Truist Financial cut their price objective on shares of Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 price objective on shares of Fortive in a research report on Friday, September 6th. Finally, Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.23.

Fortive Stock Performance

Shares of FTV opened at $72.51 on Thursday. The firm’s 50 day moving average is $72.23 and its 200-day moving average is $76.69. The stock has a market capitalization of $25.53 billion, a P/E ratio of 28.66, a P/E/G ratio of 2.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. Equities research analysts anticipate that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is currently 12.65%.

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.