Janney Montgomery Scott LLC Raises Holdings in Fortive Corporation $FTV

Janney Montgomery Scott LLC lifted its holdings in shares of Fortive Corporation (NYSE:FTV) by 114.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 26,506 shares of the technology company’s stock after acquiring an additional 14,120 shares during the period. Janney Montgomery Scott LLC’s holdings in Fortive were worth $1,382,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Fortive by 11.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company’s stock worth $790,000 after acquiring an additional 1,076 shares during the last quarter. Drake & Associates LLC grew its stake in shares of Fortive by 28.7% during the first quarter. Drake & Associates LLC now owns 22,298 shares of the technology company’s stock worth $1,632,000 after acquiring an additional 4,978 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Fortive by 13.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,343 shares of the technology company’s stock worth $3,757,000 after acquiring an additional 5,963 shares during the last quarter. Brookstone Capital Management purchased a new stake in shares of Fortive during the first quarter worth about $3,542,000. Finally, Perpetual Ltd grew its stake in shares of Fortive by 60.0% during the first quarter. Perpetual Ltd now owns 239,735 shares of the technology company’s stock worth $17,544,000 after acquiring an additional 89,891 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FTV. TD Cowen lowered Fortive from a “buy” rating to a “hold” rating and dropped their price target for the stock from $85.00 to $50.00 in a research note on Tuesday, July 15th. Weiss Ratings downgraded Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Mizuho decreased their target price on Fortive from $85.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, July 16th. Melius downgraded Fortive from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a report on Tuesday, July 22nd. Finally, Wall Street Zen raised Fortive to a “hold” rating in a report on Friday, September 5th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.79.

Fortive Trading Down 2.9%

Shares of NYSE:FTV opened at $47.87 on Monday. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32. The company has a market capitalization of $16.20 billion, a PE ratio of 21.56, a PEG ratio of 3.03 and a beta of 1.15. The business has a 50 day moving average of $48.35 and a two-hundred day moving average of $58.91. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28.

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

Fortive Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a $0.06 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s payout ratio is 10.81%.

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.