Fortive Co. (NYSE:FTV) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Fortive Co. (NYSE:FTV) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 802,318 shares of the technology company’s stock after selling 45,416 shares during the period. Allspring Global Investments Holdings LLC owned 0.23% of Fortive worth $69,015,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FTV. Oak Thistle LLC raised its holdings in Fortive by 34.7% in the 1st quarter. Oak Thistle LLC now owns 11,290 shares of the technology company’s stock valued at $971,000 after acquiring an additional 2,906 shares during the last quarter. Mirador Capital Partners LP raised its holdings in Fortive by 2.1% in the 1st quarter. Mirador Capital Partners LP now owns 10,451 shares of the technology company’s stock valued at $899,000 after acquiring an additional 218 shares during the last quarter. Alpha Omega Wealth Management LLC raised its holdings in Fortive by 10.3% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 4,432 shares of the technology company’s stock valued at $381,000 after acquiring an additional 415 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Fortive in the 1st quarter valued at $223,000. Finally, Indiana Trust & Investment Management CO acquired a new position in Fortive in the 1st quarter valued at $26,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Up 0.2 %

Shares of Fortive stock opened at $72.30 on Wednesday. The company has a fifty day moving average price of $75.04 and a 200 day moving average price of $78.21. 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 twelve month low of $63.05 and a twelve month high of $87.10. The stock has a market cap of $25.45 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 2.17 and a beta of 1.12.

Fortive (NYSE:FTV) last announced its quarterly 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. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Equities research analysts forecast that Fortive Co. will post 3.8 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were given a dividend of $0.08 per share. The ex-dividend date was Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. Fortive’s dividend payout ratio (DPR) is 12.65%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FTV. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and cut their price target for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Barclays boosted their price target on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Citigroup dropped their price objective on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Finally, Royal Bank of Canada dropped their price objective on Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.69.

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.