Ferguson Wellman Capital Management Inc. Has $73.58 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Ferguson Wellman Capital Management Inc. trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 0.9% during the fourth quarter, HoldingsChannel reports. The fund owned 981,019 shares of the technology company’s stock after selling 9,029 shares during the quarter. Fortive comprises 1.4% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 20th largest position. Ferguson Wellman Capital Management Inc.’s holdings in Fortive were worth $73,576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Private Advisor Group LLC grew its stake in shares of Fortive by 3.6% in the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock worth $308,000 after purchasing an additional 135 shares during the last quarter. Wedmont Private Capital lifted its holdings in Fortive by 4.3% during the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock worth $252,000 after buying an additional 137 shares during the period. Patton Albertson Miller Group LLC grew its position in shares of Fortive by 1.7% in the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after buying an additional 150 shares during the last quarter. Andina Capital Management LLC increased its stake in shares of Fortive by 3.4% in the third quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock valued at $362,000 after buying an additional 152 shares during the period. Finally, Atria Investments Inc raised its position in shares of Fortive by 1.6% during the third quarter. Atria Investments Inc now owns 10,591 shares of the technology company’s stock worth $836,000 after acquiring an additional 163 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FTV. Wells Fargo & Company upped their target price on Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Truist Financial boosted their target price on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Barclays dropped their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $86.45.

Fortive Trading Down 0.9 %

Shares of Fortive stock opened at $79.12 on Monday. The stock has a market capitalization of $27.45 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The stock has a 50 day moving average price of $77.65 and a two-hundred day moving average price of $75.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $0.98 earnings per share. As a group, equities analysts anticipate that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio is presently 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.