Entropy Technologies LP Reduces Stock Holdings in Fortive Co. (NYSE:FTV)

Entropy Technologies LP cut its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 30.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,510 shares of the technology company's stock after selling 19,996 shares during the period. Entropy Technologies LP's holdings in Fortive were worth $3,413,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Raymond James & Associates increased its position in Fortive by 15.0% in the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company's stock valued at $31,216,000 after acquiring an additional 51,690 shares during the period. Atomi Financial Group Inc. increased its stake in Fortive by 4.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company's stock valued at $389,000 after buying an additional 226 shares during the period. First Hawaiian Bank raised its position in Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock worth $1,145,000 after buying an additional 10,125 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Fortive by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock worth $32,052,000 after acquiring an additional 10,795 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Fortive by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company's stock valued at $2,832,000 after acquiring an additional 7,829 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FTV has been the subject of several analyst reports. Truist Financial increased their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Wells Fargo & Company raised their price target on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday. StockNews.com lowered Fortive from a "buy" rating to a "hold" rating in a report on Monday. Citigroup downgraded Fortive from a "buy" rating to a "neutral" rating and reduced their target price for the company from $92.00 to $86.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Fortive has an average rating of "Moderate Buy" and an average target price of $87.64.

Fortive Price Performance

Shares of NYSE FTV remained flat at $80.18 on Wednesday. 1,890,530 shares of the company's stock traded hands, compared to its average volume of 2,387,626. The company has a 50-day simple moving average of $77.72 and a 200 day simple moving average of $75.53. The stock has a market cap of $27.82 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business posted $0.98 EPS. Sell-side analysts expect that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive's payout ratio is currently 12.75%.

About Fortive

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.