RDA Financial Network Sells 389 Shares of Fortive Co. (NYSE:FTV)

RDA Financial Network decreased its stake in shares of Fortive Co. (NYSE:FTV) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,053 shares of the technology company’s stock after selling 389 shares during the period. RDA Financial Network’s holdings in Fortive were worth $349,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Nordea Investment Management AB grew its position in Fortive by 34.2% in the fourth quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company’s stock valued at $38,828,000 after purchasing an additional 134,259 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its position in Fortive by 4.5% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock valued at $61,326,000 after purchasing an additional 35,688 shares in the last quarter. California State Teachers Retirement System grew its position in Fortive by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 577,159 shares of the technology company’s stock valued at $42,496,000 after purchasing an additional 13,251 shares in the last quarter. Capital World Investors grew its position in Fortive by 0.6% in the fourth quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock valued at $430,568,000 after purchasing an additional 33,990 shares in the last quarter. Finally, United Services Automobile Association bought a new position in Fortive in the fourth quarter valued at $885,000. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Down 0.1 %

Shares of FTV opened at $73.53 on Monday. 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 12 month low of $63.05 and a 12 month high of $87.10. The firm’s 50 day moving average is $75.89 and its 200-day moving average is $78.09. The stock has a market capitalization of $25.88 billion, a PE ratio of 29.09, a P/E/G ratio of 2.14 and a beta of 1.13.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The firm 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 forecast that Fortive Co. will post 3.8 EPS for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 0.44%. Fortive’s dividend payout ratio is 12.65%.

Analysts Set New Price Targets

FTV has been the subject of a number of recent analyst reports. Barclays increased their price target on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Truist Financial initiated coverage on shares of Fortive in a research note on Thursday, March 14th. They issued a “buy” rating and a $99.00 price target for the company. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Citigroup cut their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Wells Fargo & Company cut their price target on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.46.

Fortive 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.