Fortive Corporation $FTV Shares Acquired by Forum Financial Management LP

Forum Financial Management LP boosted its stake in Fortive Corporation (NYSE:FTV) by 44.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,269 shares of the technology company’s stock after buying an additional 3,150 shares during the period. Forum Financial Management LP’s holdings in Fortive were worth $535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dodge & Cox grew its position in Fortive by 181.5% in the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock valued at $1,602,669,000 after buying an additional 14,120,456 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Fortive by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock valued at $959,567,000 after buying an additional 4,382,242 shares in the last quarter. Invesco Ltd. grew its position in Fortive by 96.6% in the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock valued at $411,781,000 after buying an additional 2,764,432 shares in the last quarter. Select Equity Group L.P. grew its position in Fortive by 4.9% in the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock valued at $330,012,000 after buying an additional 212,025 shares in the last quarter. Finally, Northern Trust Corp grew its position in Fortive by 2.8% in the 1st quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock valued at $297,691,000 after buying an additional 109,307 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Cowen lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, July 15th. Melius Research upgraded shares of Fortive to a “hold” rating in a research report on Tuesday, July 22nd. Raymond James Financial decreased their target price on shares of Fortive from $90.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, July 1st. Wells Fargo & Company reduced their price objective on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 1st. Finally, Zacks Research upgraded shares of Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $61.14.

Fortive Stock Performance

NYSE:FTV opened at $49.46 on Friday. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $83.32. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $48.63 and a 200-day moving average of $57.67. The firm has a market cap of $16.74 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 3.15 and a beta of 1.15.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a net margin of 13.62% and a return on equity of 11.96%. The company had revenue of $1.07 billion during the quarter. Analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, September 12th. Fortive’s dividend payout ratio (DPR) is presently 10.81%.

Fortive Company Profile

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.