Evermay Wealth Management LLC Lowers Stock Position in Fortive Corporation $FTV

Evermay Wealth Management LLC reduced its stake in Fortive Corporation (NYSE:FTV) by 31.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the technology company’s stock after selling 935 shares during the quarter. Evermay Wealth Management LLC’s holdings in Fortive were worth $104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Accent Capital Management LLC purchased a new position in shares of Fortive during the first quarter worth approximately $26,000. Geneos Wealth Management Inc. raised its stake in shares of Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after acquiring an additional 357 shares in the last quarter. Capital Analysts LLC raised its stake in shares of Fortive by 41.0% during the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after acquiring an additional 152 shares in the last quarter. Banque Transatlantique SA raised its stake in shares of Fortive by 92.8% during the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock worth $38,000 after acquiring an additional 270 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Fortive by 37.5% during the first quarter. Exchange Traded Concepts LLC now owns 686 shares of the technology company’s stock worth $50,000 after acquiring an additional 187 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on FTV. Truist Financial reissued a “hold” rating and set a $55.00 price target (down from $60.00) on shares of Fortive in a research note on Thursday, July 31st. Mizuho dropped their target price on Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a report on Friday. Wall Street Zen upgraded Fortive to a “hold” rating in a report on Friday, September 5th. Melius Research raised shares of Fortive to a “hold” rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company decreased their target price on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 1st. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Hold” and an average price target of $61.14.

Fortive Stock Up 1.3%

Shares of NYSE FTV opened at $49.30 on Tuesday. 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. The firm’s fifty day moving average is $48.52 and its 200 day moving average is $57.98. The company has a market cap of $16.68 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 3.09 and a beta of 1.15.

Fortive (NYSE:FTV) last released its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The business 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%. On average, equities research analysts expect that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.06 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.24 annualized dividend and a yield of 0.5%. Fortive’s payout ratio is 10.81%.

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.