First Western Trust Bank Has $3.90 Million Stock Holdings in Fortive Co. (NYSE:FTV)

First Western Trust Bank decreased its holdings in shares of Fortive Co. (NYSE:FTV) by 15.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,560 shares of the technology company’s stock after selling 9,361 shares during the period. First Western Trust Bank’s holdings in Fortive were worth $3,895,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Fortive in the 4th quarter valued at $268,686,000. Janus Henderson Group PLC boosted its stake in shares of Fortive by 47.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after purchasing an additional 1,999,792 shares in the last quarter. Boston Partners grew its holdings in shares of Fortive by 19.3% in the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after purchasing an additional 1,045,245 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Fortive by 13.1% during the 4th quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock worth $557,929,000 after purchasing an additional 878,523 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in Fortive by 15,382.4% during the 4th 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 last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FTV. Royal Bank of Canada decreased their price objective on shares of Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 25th. Barclays dropped their price target on Fortive from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Wells Fargo & Company lowered their target price on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Truist Financial reduced their price target on shares of Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Fortive currently has an average rating of “Moderate Buy” and an average price target of $84.92.

Fortive Trading Up 1.5 %

FTV opened at $72.80 on Friday. The firm has a 50 day simple moving average of $72.29 and a 200 day simple moving average of $77.10. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The company has a market cap of $25.63 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 2.17 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is currently 12.65%.

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.