Moneta Group Investment Advisors LLC Reduces Stake in Fortive Corp (NYSE:FTV)

Moneta Group Investment Advisors LLC reduced its position in Fortive Corp (NYSE:FTV) by 51.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,390 shares of the technology company’s stock after selling 1,459 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Fortive were worth $394,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTV. Glassman Wealth Services increased its position in Fortive by 158.8% during the first quarter. Glassman Wealth Services now owns 308 shares of the technology company’s stock worth $26,000 after buying an additional 189 shares in the last quarter. Rational Advisors LLC bought a new stake in Fortive during the second quarter valued at about $33,000. Aspire Private Capital LLC boosted its holdings in Fortive by 514.7% during the first quarter. Aspire Private Capital LLC now owns 418 shares of the technology company’s stock valued at $35,000 after acquiring an additional 350 shares during the period. Kavar Capital Partners LLC bought a new stake in Fortive during the second quarter valued at about $37,000. Finally, Bremer Bank National Association bought a new stake in Fortive during the first quarter valued at about $53,000. 82.64% of the stock is owned by hedge funds and other institutional investors.

FTV has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Fortive from a “hold” rating to a “sell” rating and set a $74.00 price target for the company. in a report on Friday, August 30th. Credit Suisse Group restated a “hold” rating and set a $76.00 price target on shares of Fortive in a report on Tuesday. Berenberg Bank initiated coverage on shares of Fortive in a report on Wednesday, May 15th. They set a “buy” rating and a $96.00 price target for the company. Gordon Haskett cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Raymond James set a $84.00 price target on shares of Fortive and gave the company an “outperform” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Fortive has a consensus rating of “Hold” and a consensus target price of $82.87.

Shares of FTV traded down $0.61 during trading hours on Thursday, reaching $69.98. 68,595 shares of the company traded hands, compared to its average volume of 1,620,145. The stock’s fifty day moving average is $71.23 and its 200 day moving average is $79.36. The stock has a market cap of $22.82 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 2.60 and a beta of 1.22. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 1.23. Fortive Corp has a 1-year low of $62.89 and a 1-year high of $89.48.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.01. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. On average, equities research analysts predict that Fortive Corp will post 3.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, August 29th. Fortive’s dividend payout ratio is currently 9.15%.

In other news, SVP Stacey A. Walker sold 34,446 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the completion of the transaction, the senior vice president now owns 20,015 shares of the company’s stock, valued at $1,415,060.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.70% of the stock is currently owned by corporate insiders.

Fortive Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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