2,447 Shares in Fortive Co. (NYSE:FTV) Acquired by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC bought a new stake in Fortive Co. (NYSE:FTV) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,447 shares of the technology company’s stock, valued at approximately $180,000.

Several other hedge funds also recently bought and sold shares of the company. Cetera Trust Company N.A acquired a new position in shares of Fortive in the 4th quarter valued at approximately $28,000. Spire Wealth Management boosted its holdings in shares of Fortive by 69.3% in the fourth quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after buying an additional 208 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Fortive during the fourth quarter worth $38,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Fortive by 1,162.8% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 543 shares of the technology company’s stock worth $40,000 after acquiring an additional 500 shares during the period. Finally, Richardson Financial Services Inc. bought a new stake in Fortive in the 4th quarter valued at $43,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Price Performance

Shares of NYSE FTV opened at $73.60 on Friday. The firm has a market capitalization of $25.91 billion, a P/E ratio of 29.09, a P/E/G ratio of 2.14 and a beta of 1.13. The firm’s 50-day moving average price is $75.89 and its 200-day moving average price is $78.03. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. Equities research analysts anticipate that Fortive Co. will post 3.8 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.08 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Wall Street Analysts Forecast Growth

FTV has been the subject of several recent research reports. Citigroup reduced their price objective on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Truist Financial started coverage on shares of Fortive in a report on Thursday, March 14th. They issued a “buy” rating and a $99.00 price objective on the stock. Barclays increased their target price on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $95.00 to $90.00 in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reduced their price objective on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, April 25th. Seven research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.46.

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.