Oppenheimer & Co. Inc. Sells 1,575 Shares of Fortive Co. (NYSE:FTV)

Oppenheimer & Co. Inc. decreased its stake in Fortive Co. (NYSE:FTVGet Rating) by 29.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,772 shares of the technology company’s stock after selling 1,575 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Fortive were worth $230,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FTV. Dimensional Fund Advisors LP grew its holdings in shares of Fortive by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,609,420 shares of the technology company’s stock valued at $122,777,000 after acquiring an additional 4,100 shares in the last quarter. HighTower Advisors LLC grew its holdings in Fortive by 1.7% during the fourth quarter. HighTower Advisors LLC now owns 114,785 shares of the technology company’s stock worth $8,747,000 after purchasing an additional 1,898 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in Fortive by 62.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 26,697 shares of the technology company’s stock worth $2,029,000 after purchasing an additional 10,265 shares during the period. WINTON GROUP Ltd bought a new position in Fortive during the fourth quarter worth about $618,000. Finally, Aviva PLC grew its holdings in Fortive by 3.1% during the fourth quarter. Aviva PLC now owns 102,454 shares of the technology company’s stock worth $7,816,000 after purchasing an additional 3,035 shares during the period. Institutional investors own 94.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citigroup lifted their price target on Fortive from $69.00 to $72.00 in a report on Friday, July 29th. Barclays lifted their price target on Fortive to $72.00 in a report on Tuesday, August 9th. Cowen cut their price objective on shares of Fortive from $80.00 to $70.00 and set a “market perform” rating for the company in a research report on Thursday, June 2nd. TheStreet upgraded shares of Fortive from a “c+” rating to a “b” rating in a research report on Tuesday, August 23rd. Finally, Royal Bank of Canada raised their price objective on shares of Fortive from $61.00 to $68.00 in a research report on Friday, July 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $72.64.

Fortive Stock Up 2.8 %

NYSE FTV opened at $64.84 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 0.28. Fortive Co. has a 1-year low of $52.47 and a 1-year high of $79.87. The company has a 50 day moving average of $61.64 and a 200-day moving average of $60.24. The company has a market cap of $23.06 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTVGet Rating) last released its quarterly earnings results on Thursday, July 28th. The technology company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Fortive had a net margin of 11.86% and a return on equity of 11.25%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities research analysts expect that Fortive Co. will post 3.11 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.28 annualized dividend and a yield of 0.43%. Fortive’s dividend payout ratio is currently 15.56%.

Fortive Profile

(Get Rating)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

Further Reading

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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