Summit Trail Advisors LLC Buys 1,023 Shares of Fortive Co. (NYSE:FTV)

Summit Trail Advisors LLC lifted its stake in Fortive Co. (NYSE:FTV) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,143 shares of the technology company’s stock after purchasing an additional 1,023 shares during the quarter. Summit Trail Advisors LLC’s holdings in Fortive were worth $761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Fortive by 5.3% in the third quarter. CWM LLC now owns 10,031 shares of the technology company’s stock worth $792,000 after buying an additional 508 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Fortive by 276.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,043 shares of the technology company’s stock worth $161,000 after acquiring an additional 1,500 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Fortive in the 3rd quarter valued at approximately $41,000. Vontobel Holding Ltd. boosted 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 last quarter. Finally, McCollum Christoferson Group LLC increased its holdings in shares of Fortive by 2.5% in the 3rd quarter. McCollum Christoferson Group LLC now owns 58,238 shares of the technology company’s stock worth $4,597,000 after purchasing an additional 1,440 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FTV shares. Royal Bank of Canada upped their price target on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday. JPMorgan Chase & Co. lowered their target price 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. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and dropped their price target for the company from $92.00 to $86.00 in a report on Monday, December 9th. Barclays decreased their price objective on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, UBS Group assumed coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and an average target price of $87.64.

Fortive Stock Performance

Shares of NYSE FTV opened at $80.14 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.99 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 capitalization of $27.80 billion, a price-to-earnings ratio of 31.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. The firm has a 50 day moving average of $77.69 and a 200 day moving average of $75.47.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating 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 in the prior year, the business posted $0.98 earnings per share. On average, research analysts anticipate that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

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.