Fortive Co. (NYSE:FTV) Shares Sold by Arcus Capital Partners LLC

Arcus Capital Partners LLC cut its stake in shares of Fortive Co. (NYSE:FTV) by 18.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,788 shares of the technology company’s stock after selling 1,958 shares during the period. Arcus Capital Partners LLC’s holdings in Fortive were worth $659,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Private Advisor Group LLC grew its position in shares of Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock worth $308,000 after buying an additional 135 shares in the last quarter. Wedmont Private Capital grew its holdings in Fortive by 4.3% during the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock worth $252,000 after acquiring an additional 137 shares in the last quarter. Patton Albertson Miller Group LLC grew its stake in shares of Fortive by 1.7% during the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock worth $699,000 after purchasing an additional 150 shares in the last quarter. Andina Capital Management LLC grew its stake in shares of Fortive by 3.4% during the third quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock worth $362,000 after purchasing an additional 152 shares in the last quarter. Finally, Atria Investments Inc grew its stake in shares of Fortive by 1.6% during the third quarter. Atria Investments Inc now owns 10,591 shares of the technology company’s stock worth $836,000 after purchasing an additional 163 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Up 1.9 %

Shares of NYSE:FTV opened at $81.68 on Friday. The stock has a market cap of $28.34 billion, a P/E ratio of 32.54, a P/E/G ratio of 2.14 and a beta of 1.15. The firm has a fifty day moving average price of $77.74 and a 200 day moving average price of $75.57. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10.

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

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given 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 yield of 0.39%. Fortive’s payout ratio is 12.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FTV shares. Truist Financial boosted their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Barclays lowered their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. 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. JPMorgan Chase & Co. reduced their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.64.

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.