AlphaQuest LLC Buys 24,378 Shares of Fortive Corporation $FTV

AlphaQuest LLC raised its stake in Fortive Corporation (NYSE:FTV) by 3,512.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,072 shares of the technology company’s stock after acquiring an additional 24,378 shares during the period. AlphaQuest LLC’s holdings in Fortive were worth $1,307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of FTV. Accent Capital Management LLC purchased a new stake in Fortive during the first quarter valued at $26,000. Geneos Wealth Management Inc. raised its stake in Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares in the last quarter. Capital Analysts LLC raised its stake in Fortive by 41.0% during the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after purchasing an additional 152 shares in the last quarter. Banque Transatlantique SA raised its stake in Fortive by 92.8% during the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock valued at $38,000 after purchasing an additional 270 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in Fortive by 459.7% during the first quarter. Larson Financial Group LLC now owns 806 shares of the technology company’s stock valued at $59,000 after purchasing an additional 662 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Price Performance

Shares of FTV stock opened at $49.46 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. The company has a market capitalization of $16.74 billion, a P/E ratio of 22.28, a P/E/G ratio of 3.15 and a beta of 1.15. The company’s 50-day simple moving average is $48.63 and its two-hundred day simple moving average is $57.67. Fortive Corporation has a one year low of $46.34 and a one year high of $83.32.

Fortive (NYSE:FTV) last issued its earnings results on Monday, June 9th. The technology company reported $0.80 EPS 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%. As a group, equities analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Fortive’s dividend payout ratio (DPR) is 10.81%.

Analyst Ratings Changes

A number of research firms recently issued reports on FTV. Morgan Stanley reaffirmed an “equal weight” rating and set a $50.00 price target (down previously from $90.00) on shares of Fortive in a research note on Tuesday, September 2nd. Barclays set a $54.00 price target on shares of Fortive and gave the company an “equal weight” rating in a research note on Thursday, August 14th. Raymond James Financial decreased their price target on shares of Fortive from $90.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 1st. Wall Street Zen raised shares of Fortive to a “hold” rating in a research note on Friday, September 5th. Finally, Melius downgraded shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research note on Tuesday, July 22nd. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Fortive presently has an average rating of “Hold” and an average price target of $61.14.

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.