Ramsay Stattman Vela & Price Inc. Decreases Holdings in Fortive Co. (NYSE:FTV)

Ramsay Stattman Vela & Price Inc. lowered its stake in Fortive Co. (NYSE:FTV) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 18,682 shares of the technology company’s stock after selling 320 shares during the period. Ramsay Stattman Vela & Price Inc.’s holdings in Fortive were worth $1,401,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Fortive in the 3rd quarter worth approximately $25,000. Versant Capital Management Inc boosted its stake in Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after buying an additional 297 shares during the period. Crews Bank & Trust bought a new position in Fortive during the fourth quarter valued at $37,000. Albion Financial Group UT purchased a new stake in shares of Fortive in the fourth quarter valued at $38,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Fortive in the 3rd quarter worth about $41,000. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

FTV has been the subject of several analyst reports. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Truist Financial boosted their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Argus reiterated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Wells Fargo & Company boosted their price objective on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada increased their price objective on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.64.

Fortive Stock Down 1.3 %

FTV stock opened at $80.59 on Tuesday. The stock has a market capitalization of $27.96 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $77.83 and a 200 day moving average of $75.73.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same period last year, the firm posted $0.98 earnings per share. Sell-side analysts forecast that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio is presently 12.75%.

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.