Fortive Co. (NYSE:FTV) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lowered its holdings in shares of Fortive Co. (NYSE:FTV) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,387 shares of the technology company’s stock after selling 192 shares during the period. Johnson Investment Counsel Inc.’s holdings in Fortive were worth $325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Quadrant Capital Group LLC raised its position in shares of Fortive by 4.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock worth $201,000 after purchasing an additional 126 shares during the last quarter. Lipe & Dalton increased its position in Fortive by 1.9% during the first quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after buying an additional 130 shares in the last quarter. RDA Financial Network raised its holdings in shares of Fortive by 3.4% in the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after acquiring an additional 138 shares during the last quarter. Pitcairn Co. lifted its position in shares of Fortive by 1.3% in the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after acquiring an additional 139 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of Fortive by 0.8% during the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock valued at $1,371,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.4 %

Shares of NYSE:FTV opened at $73.60 on Friday. The stock has a 50-day simple moving average of $72.28 and a 200-day simple moving average of $76.51. The stock has a market capitalization of $25.79 billion, a P/E ratio of 29.09, a PEG ratio of 2.11 and a beta of 1.11. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. Fortive’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. Equities analysts forecast that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s dividend payout ratio is presently 12.65%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Truist Financial reduced their price objective on shares of Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Finally, Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Thursday, September 5th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.23.

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.