JFS Wealth Advisors LLC Buys 6,180 Shares of Fortive Co. (NYSE:FTV)

JFS Wealth Advisors LLC increased its holdings in Fortive Co. (NYSE:FTV - Free Report) by 4,321.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,323 shares of the technology company's stock after purchasing an additional 6,180 shares during the quarter. JFS Wealth Advisors LLC's holdings in Fortive were worth $474,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Manchester Capital Management LLC raised its holdings in shares of Fortive by 13.4% during the fourth quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company's stock valued at $105,000 after acquiring an additional 165 shares during the period. Bull Street Advisors LLC raised its holdings in shares of Fortive by 3.5% during the fourth quarter. Bull Street Advisors LLC now owns 18,562 shares of the technology company's stock valued at $1,392,000 after acquiring an additional 620 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Fortive by 4.7% during the fourth quarter. Vontobel Holding Ltd. now owns 6,148 shares of the technology company's stock valued at $461,000 after acquiring an additional 276 shares during the period. Van ECK Associates Corp raised its holdings in shares of Fortive by 129.2% during the fourth quarter. Van ECK Associates Corp now owns 73,633 shares of the technology company's stock valued at $5,522,000 after acquiring an additional 41,506 shares during the period. Finally, Kentucky Trust Co purchased a new position in Fortive during the fourth quarter valued at approximately $648,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FTV. Royal Bank of Canada boosted their price objective on shares of Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research report on Monday, February 10th. JPMorgan Chase & Co. lowered their price objective 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. Barclays lowered their price objective on shares of Fortive from $95.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. 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, Truist Financial boosted their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $87.64.

Fortive Stock Performance

Shares of Fortive stock traded down $1.81 on Friday, reaching $80.03. The stock had a trading volume of 3,250,439 shares, compared to its average volume of 2,436,289. The business's 50-day moving average price is $78.20 and its two-hundred day moving average price is $76.07. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The stock has a market cap of $27.77 billion, a P/E ratio of 33.91, a price-to-earnings-growth ratio of 2.71 and a beta of 1.15.

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

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend 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.