Burney Co. Reduces Holdings in Fortive Co. (NYSE:FTV)

Burney Co. cut its stake in shares of Fortive Co. (NYSE:FTVFree Report) by 8.6% during the third quarter, HoldingsChannel.com reports. The firm owned 6,148 shares of the technology company’s stock after selling 575 shares during the period. Burney Co.’s holdings in Fortive were worth $456,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC grew its position in Fortive by 61,103.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,600,591 shares of the technology company’s stock worth $231,338,000 after buying an additional 3,594,708 shares during the period. Norges Bank purchased a new stake in shares of Fortive during the 4th quarter worth approximately $193,761,000. BlackRock Inc. grew its holdings in shares of Fortive by 3.7% in the 2nd quarter. BlackRock Inc. now owns 31,960,801 shares of the technology company’s stock worth $2,389,709,000 after acquiring an additional 1,135,961 shares during the period. Brown Advisory Inc. increased its stake in Fortive by 18.1% in the 2nd quarter. Brown Advisory Inc. now owns 6,507,074 shares of the technology company’s stock valued at $486,534,000 after purchasing an additional 999,436 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Fortive by 2.7% during the first quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock worth $2,288,355,000 after purchasing an additional 989,883 shares during the last quarter. Hedge funds and other institutional investors own 95.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on FTV shares. Mizuho upped their target price on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Vertical Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Bank of America downgraded shares of Fortive from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a report on Thursday, October 26th. Barclays reduced their price target on shares of Fortive from $83.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average price target of $81.92.

Read Our Latest Research Report on Fortive

Fortive Stock Up 0.6 %

FTV stock opened at $82.70 on Friday. Fortive Co. has a one year low of $62.70 and a one year high of $83.46. The stock has a market capitalization of $35.34 billion, a P/E ratio of 33.89, a PEG ratio of 2.59 and a beta of 1.13. The company has a 50 day moving average price of $73.66 and a two-hundred day moving average price of $73.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.34 and a current ratio of 1.57.

Fortive (NYSE:FTVGet Free Report) last released its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that Fortive Co. will post 3.78 EPS for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, February 23rd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortive’s dividend payout ratio (DPR) is 13.11%.

Fortive Company Profile

(Free Report)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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