Klingenstein Fields & Co. LP Sells 161 Shares of Fortive Co. (NYSE:FTV)

Klingenstein Fields & Co. LP lowered its holdings in shares of Fortive Co. (NYSE:FTV) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 293,725 shares of the technology company’s stock after selling 161 shares during the period. Klingenstein Fields & Co. LP owned approximately 0.08% of Fortive worth $22,029,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FTV. Mizuho Securities USA LLC grew its stake in Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after acquiring an additional 3,972,855 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Fortive by 1,005.9% during the third quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock valued at $152,899,000 after buying an additional 1,761,983 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after acquiring an additional 977,428 shares during the period. Holocene Advisors LP lifted its holdings in Fortive by 1,014.1% during the third quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock worth $72,984,000 after acquiring an additional 841,671 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Fortive by 59.3% during the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after acquiring an additional 505,882 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FTV. StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a report on Monday. UBS Group assumed coverage on Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price on the stock. Wells Fargo & Company boosted their target price on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday. Truist Financial lifted their price target on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Citigroup cut Fortive from a “buy” rating to a “neutral” rating and reduced their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.64.

Fortive Trading Up 1.9 %

NYSE FTV opened at $81.68 on Friday. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average of $77.74 and a 200-day moving average of $75.57. The firm has a market cap of $28.34 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTV) last released its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same period last year, the firm posted $0.98 earnings per share. As a group, sell-side analysts forecast that Fortive Co. will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio is currently 12.75%.

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.