Compton Wealth Advisory Group LLC Acquires Shares of 8,193 Fortive Co. (NYSE:FTV)

Compton Wealth Advisory Group LLC bought a new position in shares of Fortive Co. (NYSE:FTV) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,193 shares of the technology company’s stock, valued at approximately $705,000.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in Fortive in the fourth quarter valued at approximately $268,686,000. Brown Advisory Inc. grew its holdings in Fortive by 13.1% during the fourth 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. Panagora Asset Management Inc. grew its holdings in Fortive by 15,382.4% during the fourth quarter. Panagora Asset Management Inc. now owns 634,778 shares of the technology company’s stock valued at $46,739,000 after purchasing an additional 630,678 shares during the period. Jennison Associates LLC increased its stake in Fortive by 111.7% in the fourth quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company’s stock valued at $86,637,000 after purchasing an additional 620,866 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new stake in Fortive in the fourth quarter worth $45,557,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Up 0.9 %

NYSE FTV traded up $0.63 during trading hours on Friday, hitting $73.60. 3,350,769 shares of the company traded hands, compared to its average volume of 1,224,271. Fortive Co. has a twelve month low of $63.05 and a twelve month high of $87.10. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 2.14 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. The business’s 50-day moving average is $75.89 and its 200-day moving average is $78.09.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping 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 net margin of 14.68% and a return on equity of 12.22%. Sell-side analysts anticipate that Fortive Co. will post 3.8 earnings per share for the current year.

Fortive Dividend Announcement

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 is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Analysts Set New Price Targets

A number of research firms recently commented on FTV. Barclays upped their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Truist Financial began coverage on Fortive in a research report on Thursday, March 14th. They issued a “buy” rating and a $99.00 price objective for the company. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Finally, Citigroup lowered their price objective on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.46.

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.