Fortive Co. (NYSE:FTV) Stake Trimmed by Csenge Advisory Group

Csenge Advisory Group cut its position in shares of Fortive Co. (NYSE:FTV) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,408 shares of the technology company’s stock after selling 497 shares during the quarter. Csenge Advisory Group’s holdings in Fortive were worth $481,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FTV. Exchange Traded Concepts LLC purchased a new stake in shares of Fortive in the 3rd quarter valued at approximately $41,000. Vontobel Holding Ltd. raised its stake in Fortive by 7.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 5,872 shares of the technology company’s stock valued at $463,000 after purchasing an additional 402 shares during the period. Blue Trust Inc. raised its stake in Fortive by 228.7% during the 3rd quarter. Blue Trust Inc. now owns 1,778 shares of the technology company’s stock valued at $132,000 after purchasing an additional 1,237 shares during the period. Raymond James & Associates boosted its position in shares of Fortive by 15.0% in the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after buying an additional 51,690 shares during the period. Finally, OLD National Bancorp IN boosted its position in shares of Fortive by 4.6% in the third quarter. OLD National Bancorp IN now owns 4,796 shares of the technology company’s stock worth $379,000 after buying an additional 211 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Trading Up 1.4 %

NYSE:FTV opened at $81.75 on Wednesday. The company’s 50 day moving average is $77.87 and its 200-day moving average is $75.80. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The firm has a market cap of $28.36 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTV) last released its 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 net margin of 14.35% and a return on equity of 12.56%. During the same quarter last year, the business posted $0.98 earnings per share. Equities analysts anticipate that Fortive Co. will post 3.84 EPS for the current year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio is currently 12.75%.

Wall Street Analyst Weigh In

A number of brokerages have commented on FTV. JPMorgan Chase & Co. decreased their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Truist Financial boosted their price objective on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays cut their target price on shares of 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 target on the stock. Finally, Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.