Fortive Co. (NYSE:FTV) Shares Acquired by Redmond Asset Management LLC

Redmond Asset Management LLC lifted its position in shares of Fortive Co. (NYSE:FTV) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,373 shares of the technology company’s stock after acquiring an additional 1,055 shares during the period. Redmond Asset Management LLC’s holdings in Fortive were worth $1,078,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Fortive during the 3rd quarter valued at approximately $25,000. Versant Capital Management Inc increased its position in Fortive by 186.8% in 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 period. Crews Bank & Trust acquired a new stake in Fortive in the fourth quarter worth $37,000. Albion Financial Group UT acquired a new stake in Fortive in the fourth quarter worth $38,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Fortive in the third quarter worth $57,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FTV has been the topic of several analyst reports. Barclays dropped their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. UBS Group began coverage on shares of Fortive in a research note on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada lifted their price objective on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.64.

Fortive Price Performance

NYSE:FTV opened at $80.03 on Friday. The business’s 50-day moving average price is $78.20 and its 200 day moving average price is $76.07. The firm has a market cap of $27.77 billion, a P/E ratio of 33.91, a PEG ratio of 2.71 and a beta of 1.15. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the previous year, the company posted $0.98 EPS. As a group, sell-side analysts predict that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

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

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.