First Horizon Advisors Inc. Sells 464 Shares of Fortive Co. (NYSE:FTV)

First Horizon Advisors Inc. cut its stake in shares of Fortive Co. (NYSE:FTV) by 9.3% in the fourth quarter, Holdings Channel reports. The fund owned 4,510 shares of the technology company’s stock after selling 464 shares during the period. First Horizon Advisors Inc.’s holdings in Fortive were worth $338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Fortive during the 3rd quarter worth about $25,000. Versant Capital Management Inc grew its stake in Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after buying an additional 297 shares during the last quarter. Crews Bank & Trust acquired a new stake in shares of Fortive during the fourth quarter worth approximately $37,000. Albion Financial Group UT acquired a new stake in shares of Fortive during the fourth quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Fortive in the third quarter valued at approximately $57,000. 94.94% of the stock is owned by institutional investors.

Fortive Stock Down 0.6 %

Shares of NYSE FTV opened at $79.62 on Wednesday. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The firm’s 50-day moving average is $78.34 and its 200-day moving average is $76.35. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $27.62 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the previous year, the firm earned $0.98 EPS. Equities analysts expect that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays decreased their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Argus reaffirmed a “hold” rating on shares of Fortive in a report on Monday, November 18th. UBS Group started coverage on shares of Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.64.

Fortive 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.