Kestra Private Wealth Services LLC Sells 6,355 Shares of Fortive Co. (NYSE:FTV)

Kestra Private Wealth Services LLC trimmed its holdings in Fortive Co. (NYSE:FTVGet Rating) by 43.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,373 shares of the technology company’s stock after selling 6,355 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Fortive were worth $510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. lifted its stake in Fortive by 21.8% in the 1st quarter. Zions Bancorporation N.A. now owns 977 shares of the technology company’s stock valued at $59,000 after acquiring an additional 175 shares in the last quarter. Regentatlantic Capital LLC raised its position in shares of Fortive by 5.5% in the 1st quarter. Regentatlantic Capital LLC now owns 3,444 shares of the technology company’s stock valued at $210,000 after buying an additional 180 shares in the last quarter. Kinneret Advisory LLC raised its position in shares of Fortive by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 8,323 shares of the technology company’s stock valued at $507,000 after buying an additional 186 shares in the last quarter. Bull Street Advisors LLC grew its holdings in shares of Fortive by 1.0% during the 1st quarter. Bull Street Advisors LLC now owns 18,477 shares of the technology company’s stock valued at $1,126,000 after purchasing an additional 190 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Fortive by 34.7% during the 1st quarter. Covestor Ltd now owns 773 shares of the technology company’s stock valued at $47,000 after purchasing an additional 199 shares during the last quarter. 94.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FTV shares. Citigroup lifted their price objective on Fortive from $69.00 to $72.00 in a research report on Friday, July 29th. Barclays upped their price objective on Fortive to $72.00 in a research note on Tuesday, August 9th. Credit Suisse Group set a $74.00 target price on shares of Fortive in a report on Tuesday, July 19th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. Finally, Loop Capital lowered their price objective on Fortive from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $72.64.

Fortive Trading Up 1.9 %

FTV opened at $63.91 on Tuesday. The stock’s fifty day moving average is $62.99 and its two-hundred day moving average is $60.23. Fortive Co. has a 52 week low of $52.47 and a 52 week high of $79.87. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $22.73 billion, a P/E ratio of 35.51, a PEG ratio of 2.15 and a beta of 1.15.

Fortive (NYSE:FTVGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Fortive had a return on equity of 11.25% and a net margin of 11.86%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Analysts forecast that Fortive Co. will post 3.11 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.44%. Fortive’s dividend payout ratio (DPR) is presently 15.56%.

Fortive Company 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.

See Also

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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