First Pacific Financial increased its holdings in Fortive Co. (NYSE:FTV – Get Rating) by 5.2% in the second quarter, HoldingsChannel reports. The firm owned 9,439 shares of the technology company's stock after purchasing an additional 465 shares during the period. First Pacific Financial's holdings in Fortive were worth $513,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Trust Co. of Vermont bought a new stake in Fortive in the second quarter worth $68,000. Commonwealth Equity Services LLC boosted its holdings in Fortive by 1.9% during the second quarter. Commonwealth Equity Services LLC now owns 21,962 shares of the technology company's stock valued at $1,194,000 after acquiring an additional 410 shares during the period. MAI Capital Management boosted its holdings in Fortive by 137.9% during the second quarter. MAI Capital Management now owns 14,315 shares of the technology company's stock valued at $778,000 after acquiring an additional 8,298 shares during the period. TCI Wealth Advisors Inc. boosted its holdings in Fortive by 14.2% during the second quarter. TCI Wealth Advisors Inc. now owns 3,209 shares of the technology company's stock valued at $175,000 after acquiring an additional 398 shares during the period. Finally, Ellevest Inc. boosted its holdings in Fortive by 31.6% during the second quarter. Ellevest Inc. now owns 3,098 shares of the technology company's stock valued at $168,000 after acquiring an additional 744 shares during the period. 94.65% of the stock is currently owned by institutional investors.
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Analysts Set New Price Targets
FTV has been the subject of a number of recent analyst reports. TheStreet upgraded shares of Fortive from a "c+" rating to a "b" rating in a report on Tuesday, August 23rd. Loop Capital decreased their price target on shares of Fortive from $84.00 to $78.00 and set a "buy" rating for the company in a report on Tuesday, July 19th. Credit Suisse Group set a $74.00 price target on shares of Fortive in a report on Tuesday, July 19th. Wells Fargo & Company upped their price objective on shares of Fortive from $57.00 to $63.00 and gave the company an "equal weight" rating in a research report on Monday, August 1st. Finally, Barclays upped their price objective on shares of Fortive to $72.00 in a research report on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Fortive currently has a consensus rating of "Hold" and a consensus price target of $72.64.
Fortive Price Performance
NYSE:FTV traded down $1.49 during mid-day trading on Thursday, hitting $58.90. The company's stock had a trading volume of 6,219 shares, compared to its average volume of 1,634,027. Fortive Co. has a fifty-two week low of $52.47 and a fifty-two week high of $79.87. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of 33.55, a P/E/G ratio of 2.01 and a beta of 1.15. The stock has a fifty day moving average of $63.94 and a 200-day moving average of $60.38.
Fortive (NYSE:FTV – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. Fortive had a net margin of 11.86% and a return on equity of 11.25%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. The company's quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts forecast that Fortive Co. will post 3.11 EPS for the current fiscal year.
Fortive Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Tuesday, August 30th. Fortive's dividend payout ratio (DPR) is presently 15.56%.
Fortive Company Profile
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Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.
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