Forum Financial Management LP Has $535,000 Stock Position in Fortive Corporation $FTV

Forum Financial Management LP grew its position in Fortive Corporation (NYSE:FTV) by 44.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,269 shares of the technology company’s stock after purchasing an additional 3,150 shares during the period. Forum Financial Management LP’s holdings in Fortive were worth $535,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dodge & Cox boosted its holdings in shares of Fortive by 181.5% in the first quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock worth $1,602,669,000 after buying an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Fortive by 50.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock worth $959,567,000 after purchasing an additional 4,382,242 shares in the last quarter. Invesco Ltd. lifted its position in shares of Fortive by 96.6% in the first quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock worth $411,781,000 after purchasing an additional 2,764,432 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of Fortive by 4.9% in the first quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock worth $330,012,000 after purchasing an additional 212,025 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Fortive by 2.8% in the first quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock worth $297,691,000 after purchasing an additional 109,307 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on FTV. Cowen lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, July 15th. Wells Fargo & Company reduced their price target on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 1st. Truist Financial reissued a “hold” rating and issued a $55.00 price target (down from $60.00) on shares of Fortive in a research report on Thursday, July 31st. Raymond James Financial reduced their price target on shares of Fortive from $90.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, July 1st. Finally, Melius lowered shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortive presently has an average rating of “Hold” and a consensus target price of $61.14.

Fortive Price Performance

Shares of FTV opened at $49.46 on Friday. The firm has a market cap of $16.74 billion, a PE ratio of 22.28, a PEG ratio of 3.15 and a beta of 1.15. The firm’s 50 day moving average price is $48.63 and its 200 day moving average price is $57.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $83.32.

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

Fortive Cuts Dividend

The company also recently declared 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 of this dividend was Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s dividend payout ratio (DPR) is currently 10.81%.

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.