Douglas Lane & Associates LLC Sells 607 Shares of Fortive Co. (NYSE:FTV)

Douglas Lane & Associates LLC trimmed its position in Fortive Co. (NYSE:FTVFree Report) by 9.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,977 shares of the technology company’s stock after selling 607 shares during the period. Douglas Lane & Associates LLC’s holdings in Fortive were worth $514,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Fortive by 1.0% in the 3rd quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock valued at $1,415,902,000 after purchasing an additional 181,948 shares during the period. Flossbach Von Storch AG lifted its stake in shares of Fortive by 4.8% in the 4th quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock valued at $817,873,000 after purchasing an additional 512,414 shares during the period. Brown Advisory Inc. lifted its stake in shares of Fortive by 13.1% in the 4th quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock valued at $557,929,000 after purchasing an additional 878,523 shares during the period. Capital World Investors lifted its stake in shares of Fortive by 0.6% in the 4th quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock valued at $430,568,000 after purchasing an additional 33,990 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Fortive by 2.3% in the 3rd quarter. Northern Trust Corp now owns 3,886,914 shares of the technology company’s stock valued at $288,254,000 after purchasing an additional 85,560 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of analyst reports. Royal Bank of Canada cut their price target on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 25th. Barclays raised their price objective on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company reduced their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Finally, JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $86.46.

Read Our Latest Research Report on FTV

Fortive Stock Up 0.9 %

Shares of NYSE:FTV traded up $0.63 during midday trading on Friday, reaching $73.60. The company had a trading volume of 3,350,769 shares, compared to its average volume of 1,224,271. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average price is $75.89 and its 200 day moving average price is $78.03. The stock has a market cap of $25.91 billion, a PE ratio of 29.09, a P/E/G ratio of 2.14 and a beta of 1.13. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10.

Fortive (NYSE:FTVGet Free Report) last released its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. Research analysts forecast that Fortive Co. will post 3.8 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

About Fortive

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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