Klingenstein Fields & Co. LP Cuts Stock Position in Fortive Co. (NYSE:FTV)

Klingenstein Fields & Co. LP lowered its stake in Fortive Co. (NYSE:FTV) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 293,725 shares of the technology company’s stock after selling 161 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Fortive were worth $22,029,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vontobel Holding Ltd. boosted its stake in Fortive by 4.7% during the 4th quarter. Vontobel Holding Ltd. now owns 6,148 shares of the technology company’s stock valued at $461,000 after purchasing an additional 276 shares during the last quarter. Van ECK Associates Corp boosted its stake in Fortive by 129.2% during the 4th quarter. Van ECK Associates Corp now owns 73,633 shares of the technology company’s stock valued at $5,522,000 after purchasing an additional 41,506 shares during the last quarter. Kentucky Trust Co purchased a new stake in Fortive during the 4th quarter valued at $648,000. Essex Financial Services Inc. lifted its holdings in shares of Fortive by 18.3% during the 4th quarter. Essex Financial Services Inc. now owns 3,171 shares of the technology company’s stock valued at $238,000 after buying an additional 491 shares during the period. Finally, Summit Trail Advisors LLC raised its holdings in Fortive by 11.2% in the 4th quarter. Summit Trail Advisors LLC now owns 10,143 shares of the technology company’s stock worth $761,000 after purchasing an additional 1,023 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

FTV has been the subject of a number of research analyst reports. StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday. Argus reiterated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. UBS Group initiated coverage on Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target for the company. Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Finally, Barclays dropped their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.64.

Fortive Price Performance

NYSE FTV opened at $81.68 on Friday. The firm’s fifty day simple moving average is $77.74 and its two-hundred day simple moving average is $75.57. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The firm has a market capitalization of $28.34 billion, a P/E ratio of 32.54, a P/E/G ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTV) last released its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same quarter in the prior year, the business earned $0.98 earnings per share. Analysts forecast that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is 12.75%.

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.