Arcus Capital Partners LLC Has $550,000 Position in Fortive Corporation $FTV

Arcus Capital Partners LLC reduced its position in shares of Fortive Corporation (NYSE:FTV) by 5.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,542 shares of the technology company’s stock after selling 606 shares during the quarter. Arcus Capital Partners LLC’s holdings in Fortive were worth $550,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its position in Fortive by 11.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company’s stock valued at $790,000 after purchasing an additional 1,076 shares during the last quarter. Drake & Associates LLC boosted its position in Fortive by 28.7% during the first quarter. Drake & Associates LLC now owns 22,298 shares of the technology company’s stock valued at $1,632,000 after purchasing an additional 4,978 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Fortive by 13.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,343 shares of the technology company’s stock valued at $3,757,000 after purchasing an additional 5,963 shares during the last quarter. Brookstone Capital Management acquired a new position in Fortive during the first quarter valued at approximately $3,542,000. Finally, Perpetual Ltd boosted its position in Fortive by 60.0% during the first quarter. Perpetual Ltd now owns 239,735 shares of the technology company’s stock valued at $17,544,000 after purchasing an additional 89,891 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Performance

Shares of FTV stock opened at $48.69 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The company has a market cap of $16.47 billion, a PE ratio of 21.93, a P/E/G ratio of 3.08 and a beta of 1.15. The stock’s fifty day moving average price is $48.47 and its two-hundred day moving average price is $58.15.

Fortive (NYSE:FTV) last released its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The company had revenue of $1.07 billion for the quarter. Equities analysts predict 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. Investors of record on Friday, September 12th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Fortive’s dividend payout ratio (DPR) is 10.81%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FTV shares. Truist Financial reiterated a “hold” rating and set a $55.00 target price (down previously from $60.00) on shares of Fortive in a research note on Thursday, July 31st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $53.00 target price (down previously from $58.00) on shares of Fortive in a research note on Wednesday. Weiss Ratings lowered Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Melius Research upgraded Fortive to a “hold” rating in a research note on Tuesday, July 22nd. Finally, Raymond James Financial lowered their price objective on Fortive from $90.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 1st. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Fortive currently has an average rating of “Hold” and a consensus target price of $61.14.

About Fortive

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.