Shorepath Capital Management LLC Purchases New Shares in Fortive Co. (NYSE:FTV)

Shorepath Capital Management LLC acquired a new position in shares of Fortive Co. (NYSE:FTVFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 62,849 shares of the technology company’s stock, valued at approximately $4,628,000. Fortive accounts for 4.1% of Shorepath Capital Management LLC’s holdings, making the stock its 12th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its position in Fortive by 1.0% during the third quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock worth $1,415,902,000 after acquiring an additional 181,948 shares during the period. Flossbach Von Storch AG increased its holdings in shares of Fortive by 4.8% during the fourth quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock worth $817,873,000 after purchasing an additional 512,414 shares during the period. Brown Advisory Inc. raised its position in shares of Fortive by 13.1% in the fourth quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock valued at $557,929,000 after buying an additional 878,523 shares in the last quarter. Capital World Investors boosted its stake in shares of 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 buying an additional 33,990 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Fortive by 2.3% in the third quarter. Northern Trust Corp now owns 3,886,914 shares of the technology company’s stock valued at $288,254,000 after buying an additional 85,560 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial started coverage on Fortive in a report on Thursday, March 14th. They issued a “buy” rating and a $99.00 price objective for the company. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Wells Fargo & Company decreased their target price on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Barclays boosted their target price on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average target price of $86.46.

Read Our Latest Research Report on FTV

Fortive Price Performance

Shares of NYSE FTV traded down $0.24 during midday trading on Friday, reaching $72.73. 1,754,235 shares of the company were exchanged, compared to its average volume of 1,284,288. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The stock has a market cap of $25.60 billion, a P/E ratio of 28.75, a PEG ratio of 2.13 and a beta of 1.13. The stock’s 50-day moving average price is $76.92 and its 200-day moving average price is $77.87.

Fortive (NYSE:FTVGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.53 billion. On average, sell-side analysts anticipate that Fortive Co. will post 3.8 earnings per share for the current fiscal year.

Fortive Announces Dividend

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

Fortive Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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