Ethic Inc. Purchases 3,451 Shares of Fortive Corporation $FTV

Ethic Inc. grew its position in Fortive Corporation (NYSE:FTV) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,805 shares of the technology company’s stock after purchasing an additional 3,451 shares during the quarter. Ethic Inc.’s holdings in Fortive were worth $3,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of FTV. Dodge & Cox boosted its position 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 purchasing an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings 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 buying an additional 4,382,242 shares in the last quarter. Invesco Ltd. lifted its holdings 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 buying an additional 2,764,432 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Fortive by 4,854.2% in the first quarter. Pacer Advisors Inc. now owns 1,451,325 shares of the technology company’s stock worth $106,208,000 after buying an additional 1,422,030 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Fortive in the first quarter worth $76,671,000. 94.94% of the stock is currently owned by institutional investors.

Fortive Price Performance

Fortive stock opened at $49.66 on Friday. The company has a market cap of $16.80 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 3.11 and a beta of 1.15. The firm’s fifty day moving average is $48.61 and its 200 day moving average is $57.76. The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 0.28. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $83.32.

Fortive (NYSE:FTV) last released its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. The company 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%. Sell-side analysts forecast that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of Fortive to a “hold” rating in a report on Friday, September 5th. TD Cowen downgraded shares of Fortive from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $50.00 in a report on Tuesday, July 15th. Melius downgraded shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a report on Tuesday, July 22nd. Royal Bank Of Canada lowered their target price on shares of Fortive from $58.00 to $56.00 and set a “sector perform” rating on the stock in a report on Thursday, July 31st. Finally, Barclays set a $54.00 target price on shares of Fortive and gave the stock an “equal weight” rating in a report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortive presently has an average rating of “Hold” and an average target price of $61.14.

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.