Soltis Investment Advisors LLC Decreases Stake in Fortive Co. (NYSE:FTV)

Soltis Investment Advisors LLC cut its stake in Fortive Co. (NYSE:FTV) by 4.9% in the fourth quarter, Holdings Channel reports. The fund owned 8,022 shares of the technology company’s stock after selling 410 shares during the period. Soltis Investment Advisors LLC’s holdings in Fortive were worth $602,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Fortive in the 3rd quarter worth $25,000. Versant Capital Management Inc increased its position in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares during the last quarter. Crews Bank & Trust acquired a new stake in shares of Fortive during the 4th quarter worth about $37,000. Albion Financial Group UT acquired a new stake in shares of Fortive during the 4th quarter worth about $38,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Fortive during the 3rd quarter worth about $41,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Trading Up 1.8 %

Shares of FTV opened at $80.54 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The stock has a 50-day moving average price of $77.65 and a 200 day moving average price of $75.40. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The company has a market capitalization of $27.94 billion, a P/E ratio of 32.09, a P/E/G ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same period in the prior year, the business posted $0.98 EPS. Sell-side analysts forecast that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend 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 is 13.56%.

Analyst Upgrades and Downgrades

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

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.