Moors & Cabot Inc. Cuts Stock Holdings in Fortive Co. (NYSE:FTV)

Moors & Cabot Inc. lowered its stake in shares of Fortive Co. (NYSE:FTV) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,150 shares of the technology company’s stock after selling 450 shares during the quarter. Moors & Cabot Inc.’s holdings in Fortive were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its holdings in Fortive by 1,590.9% in the second quarter. Capital Advisors Ltd. LLC now owns 372 shares of the technology company’s stock valued at $28,000 after buying an additional 350 shares during the last quarter. Your Advocates Ltd. LLP increased its holdings in Fortive by 683.3% in the second quarter. Your Advocates Ltd. LLP now owns 470 shares of the technology company’s stock valued at $35,000 after buying an additional 410 shares during the last quarter. Clear Street Markets LLC increased its holdings in Fortive by 93.0% in the first quarter. Clear Street Markets LLC now owns 691 shares of the technology company’s stock valued at $47,000 after buying an additional 333 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Fortive by 31.4% during the second quarter. Lindbrook Capital LLC now owns 627 shares of the technology company’s stock worth $47,000 after purchasing an additional 150 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Fortive by 34.7% during the first quarter. Covestor Ltd now owns 773 shares of the technology company’s stock worth $47,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 95.95% of the company’s stock.

Fortive Trading Down 0.6 %

Shares of FTV opened at $67.68 on Tuesday. The stock has a market cap of $23.79 billion, a price-to-earnings ratio of 29.05 and a beta of 1.15. The firm has a 50 day simple moving average of $71.11 and a 200-day simple moving average of $72.22. Fortive Co. has a 1-year low of $62.70 and a 1-year high of $79.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.02 and a quick ratio of 0.79.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.52 billion. Fortive had a net margin of 13.77% and a return on equity of 11.96%. Equities analysts forecast that Fortive Co. will post 3.39 EPS for the current fiscal year.

Fortive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be issued a dividend of $0.08 per share. This is a positive change from Fortive’s previous quarterly dividend of $0.07. The ex-dividend date is Wednesday, November 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.47%. Fortive’s payout ratio is presently 13.73%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup raised their price objective on Fortive from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. TD Cowen increased their target price on shares of Fortive from $70.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 23rd. Robert W. Baird increased their target price on shares of Fortive from $82.00 to $85.00 in a research note on Thursday, July 27th. Bank of America downgraded shares of Fortive from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a research note on Thursday, October 26th. Finally, Mizuho reduced their price objective on shares of Fortive from $70.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, October 26th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.46.

Fortive Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.