Alpha Omega Wealth Management LLC Has $1.53 Million Holdings in Fortive Co. (NYSE:FTV)

Alpha Omega Wealth Management LLC boosted its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 364.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,579 shares of the technology company's stock after buying an additional 16,147 shares during the period. Alpha Omega Wealth Management LLC's holdings in Fortive were worth $1,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FTV. Quadrant Capital Group LLC increased its holdings in shares of Fortive by 4.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company's stock valued at $201,000 after purchasing an additional 126 shares during the period. Lipe & Dalton increased its holdings in shares of Fortive by 1.9% in the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company's stock valued at $610,000 after purchasing an additional 130 shares during the period. RDA Financial Network increased its holdings in shares of Fortive by 3.4% in the 2nd quarter. RDA Financial Network now owns 4,191 shares of the technology company's stock valued at $311,000 after purchasing an additional 138 shares during the period. Pitcairn Co. increased its holdings in shares of Fortive by 1.3% in the 1st quarter. Pitcairn Co. now owns 11,170 shares of the technology company's stock valued at $961,000 after purchasing an additional 139 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in shares of Fortive by 0.8% in the 2nd quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company's stock valued at $1,371,000 after purchasing an additional 146 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Fortive Stock Performance

Fortive stock traded down $0.02 during trading hours on Monday, reaching $73.37. 1,677,139 shares of the company were exchanged, compared to its average volume of 1,748,652. The firm has a market cap of $25.83 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 2.06 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $72.30 and a 200 day moving average of $77.59. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.01. The firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The company's revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, research analysts anticipate that Fortive Co. will post 3.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FTV shares. TD Cowen upgraded Fortive from a "hold" rating to a "buy" rating and upped their target price for the company from $75.00 to $90.00 in a report on Monday, July 8th. Barclays dropped their target price on Fortive from $93.00 to $91.00 and set an "overweight" rating on the stock in a report on Thursday, July 25th. Royal Bank of Canada lowered their price target on Fortive from $83.00 to $77.00 and set a "sector perform" rating for the company in a research note on Thursday, July 25th. Wells Fargo & Company lowered their price target on Fortive from $84.00 to $75.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 10th. Finally, Truist Financial lowered their price target on Fortive from $89.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.91.

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.

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