Spire Wealth Management Decreases Stock Holdings in Fortive Co. (NYSE:FTV)

Spire Wealth Management trimmed its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 94.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,099 shares of the technology company's stock after selling 19,396 shares during the period. Spire Wealth Management's holdings in Fortive were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Raymond James & Associates raised its holdings in shares of Fortive by 15.0% during the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company's stock valued at $31,216,000 after purchasing an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Fortive by 4.8% during the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company's stock valued at $389,000 after purchasing an additional 226 shares during the last quarter. First Hawaiian Bank raised its holdings in shares of Fortive by 197.0% during the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock valued at $1,145,000 after purchasing an additional 10,125 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock valued at $32,052,000 after purchasing an additional 10,795 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Fortive during the third quarter valued at approximately $1,346,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Performance

Shares of FTV remained flat at $80.18 during mid-day trading on Wednesday. 1,890,530 shares of the company's stock were exchanged, compared to its average volume of 2,387,626. The firm has a market capitalization of $27.82 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The business's 50 day moving average price is $77.72 and its two-hundred day moving average price is $75.53. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping 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 company earned $0.98 earnings per share. On average, research analysts forecast that Fortive Co. will post 3.84 EPS for the current fiscal 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 given a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive's dividend payout ratio is 12.75%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FTV. StockNews.com lowered shares of Fortive from a "buy" rating to a "hold" rating in a research report on Monday. Truist Financial boosted their target price on shares of Fortive from $89.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Barclays cut their target price on shares of Fortive from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. UBS Group began coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a "neutral" rating and a $84.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Fortive has a consensus rating of "Moderate Buy" and a consensus price target of $87.64.

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.