Fortive Corporation $FTV Shares Sold by Tredje AP fonden

Tredje AP fonden reduced its stake in shares of Fortive Corporation (NYSE:FTV) by 54.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 177,600 shares of the technology company’s stock after selling 212,400 shares during the quarter. Tredje AP fonden’s holdings in Fortive were worth $9,258,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dodge & Cox grew its holdings in Fortive by 181.5% during the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock worth $1,602,669,000 after acquiring an additional 14,120,456 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Fortive by 50.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock worth $959,567,000 after acquiring an additional 4,382,242 shares in the last quarter. Invesco Ltd. grew its holdings in Fortive by 96.6% during the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock worth $411,781,000 after acquiring an additional 2,764,432 shares in the last quarter. Select Equity Group L.P. grew its holdings in Fortive by 4.9% during the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock worth $330,012,000 after acquiring an additional 212,025 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Fortive by 2.8% during the 1st quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock worth $297,691,000 after acquiring an additional 109,307 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Melius lowered shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a report on Tuesday, July 22nd. Mizuho decreased their price target on shares of Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Royal Bank Of Canada decreased their price target on shares of Fortive from $58.00 to $56.00 and set a “sector perform” rating for the company in a report on Thursday, July 31st. Cowen lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.79.

Fortive Trading Down 1.8%

Shares of NYSE:FTV opened at $50.34 on Friday. The company has a market cap of $15.99 billion, a PE ratio of 28.77, a P/E/G ratio of 3.02 and a beta of 1.15. The company’s 50-day moving average price is $48.83 and its 200 day moving average price is $57.02. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The company has a quick ratio of 0.82, a current ratio of 0.70 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The firm had revenue of $1.07 billion for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. Sell-side analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current 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 given 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 dividend payout ratio (DPR) is currently 13.71%.

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.