Rhumbline Advisers Decreases Stake in Fortive Co. (NYSE:FTV)

Rhumbline Advisers reduced its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 592,419 shares of the technology company's stock after selling 14,918 shares during the period. Rhumbline Advisers owned about 0.17% of Fortive worth $44,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Fortive in the third quarter worth approximately $25,000. Versant Capital Management Inc lifted its stake in shares of Fortive by 186.8% in the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock worth $34,000 after acquiring an additional 297 shares during the period. Crews Bank & Trust acquired a new position in shares of Fortive in the fourth quarter worth approximately $37,000. Albion Financial Group UT acquired a new position in shares of Fortive in the fourth quarter worth approximately $38,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Fortive in the third quarter worth approximately $41,000. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. UBS Group assumed coverage on Fortive in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $84.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Barclays dropped their price target on Fortive from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Truist Financial boosted their price target on Fortive from $89.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company boosted their price target on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Fortive has an average rating of "Moderate Buy" and an average price target of $87.64.

Fortive Stock Down 2.2 %

NYSE FTV traded down $1.81 on Friday, reaching $80.03. The company had a trading volume of 3,250,439 shares, compared to its average volume of 2,436,289. The stock has a market capitalization of $27.77 billion, a P/E ratio of 33.91, a P/E/G ratio of 2.71 and a beta of 1.15. The company's fifty day moving average is $78.20 and its 200 day moving average is $76.07. 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 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period last year, the company posted $0.98 earnings per share. Sell-side analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

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 given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive's payout ratio is currently 13.56%.

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.