Bleakley Financial Group LLC Cuts Stock Position in Fortive Co. (NYSE:FTV)

Bleakley Financial Group LLC lessened its holdings in Fortive Co. (NYSE:FTV) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,714 shares of the technology company’s stock after selling 130 shares during the quarter. Bleakley Financial Group LLC’s holdings in Fortive were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Fortive by 0.6% in the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock worth $644,346,000 after acquiring an additional 46,704 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after acquiring an additional 977,428 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after acquiring an additional 3,972,855 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Fortive by 3.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock worth $271,851,000 after acquiring an additional 103,530 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Fortive by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,964,789 shares of the technology company’s stock worth $155,081,000 after acquiring an additional 24,539 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays lowered their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Truist Financial lifted their target price on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group initiated coverage on Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price for the company. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $87.64.

Fortive Stock Down 0.5 %

Shares of FTV stock opened at $80.14 on Wednesday. The stock has a 50 day moving average of $77.69 and a 200 day moving average of $75.47. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $27.80 billion, a P/E ratio of 31.93, a P/E/G ratio of 2.14 and a beta of 1.15. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same period in the previous year, the firm earned $0.98 earnings per share. As a group, sell-side analysts expect that Fortive Co. will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

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.