Shorepath Capital Management LLC Raises Stake in Fortive Co. (NYSE:FTV)

Shorepath Capital Management LLC lifted its position in shares of Fortive Co. (NYSE:FTV) by 4.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 65,511 shares of the technology company’s stock after buying an additional 2,662 shares during the quarter. Fortive comprises 4.5% of Shorepath Capital Management LLC’s holdings, making the stock its 12th biggest position. Shorepath Capital Management LLC’s holdings in Fortive were worth $5,635,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of Fortive by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock worth $1,415,902,000 after acquiring an additional 181,948 shares during the period. Flossbach Von Storch AG raised its stake in Fortive by 4.8% during the fourth quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock worth $817,873,000 after purchasing an additional 512,414 shares during the period. Brown Advisory Inc. boosted its holdings 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 last quarter. Capital World Investors boosted its holdings 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 last quarter. Finally, Northern Trust Corp grew its stake in shares of Fortive by 2.3% during the 3rd quarter. Northern Trust Corp now owns 3,886,914 shares of the technology company’s stock valued at $288,254,000 after buying an additional 85,560 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

FTV has been the topic of a number of research analyst reports. 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. Citigroup decreased their target price on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $95.00 to $90.00 in a research report on Wednesday, April 17th. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Finally, Barclays lifted their target price on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Fortive has an average rating of “Moderate Buy” and a consensus target price of $86.46.

Fortive Stock Performance

Shares of FTV stock traded up $0.25 during trading hours on Wednesday, reaching $73.21. The stock had a trading volume of 1,339,903 shares, compared to its average volume of 1,626,112. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. The firm has a 50-day simple moving average of $75.59 and a 200-day simple moving average of $78.16. The firm has a market capitalization of $25.77 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. Fortive Co. has a twelve month low of $63.05 and a twelve month high of $87.10.

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

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s payout ratio is currently 12.65%.

Fortive 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.