Fortive Corporation $FTV Shares Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its position in Fortive Corporation (NYSE:FTV) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,755 shares of the technology company’s stock after purchasing an additional 321 shares during the period. New York Life Investment Management LLC’s holdings in Fortive were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Redmond Asset Management LLC raised its position in Fortive by 1.0% during the first quarter. Redmond Asset Management LLC now owns 14,515 shares of the technology company’s stock worth $1,062,000 after acquiring an additional 142 shares during the period. Capital Analysts LLC raised its position in Fortive by 41.0% during the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after acquiring an additional 152 shares during the period. Forum Financial Management LP raised its position in Fortive by 2.3% during the first quarter. Forum Financial Management LP now owns 7,119 shares of the technology company’s stock worth $521,000 after acquiring an additional 161 shares during the period. Cary Street Partners Investment Advisory LLC raised its position in Fortive by 19.1% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,092 shares of the technology company’s stock worth $80,000 after acquiring an additional 175 shares during the period. Finally, Meeder Advisory Services Inc. raised its position in Fortive by 3.7% during the first quarter. Meeder Advisory Services Inc. now owns 5,591 shares of the technology company’s stock worth $409,000 after acquiring an additional 199 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FTV shares. Zacks Research upgraded shares of Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Wall Street Zen raised shares of Fortive to a “hold” rating in a report on Friday, September 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $50.00 target price (down previously from $90.00) on shares of Fortive in a report on Tuesday, September 2nd. Mizuho dropped their target price on shares of Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Finally, TD Cowen lowered shares of Fortive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $85.00 to $50.00 in a report on Tuesday, July 15th. Three research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.79.

Fortive Trading Down 1.8%

Shares of FTV stock opened at $50.34 on Friday. The firm has a market cap of $15.99 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 3.08 and a beta of 1.15. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $83.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.82. The company has a 50-day moving average of $48.83 and a two-hundred day moving average of $57.08.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. The business had revenue of $1.07 billion for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. On average, analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Fortive’s dividend payout ratio is currently 13.71%.

About Fortive

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.