Summit Trail Advisors LLC Acquires 1,023 Shares of Fortive Co. (NYSE:FTV)

Summit Trail Advisors LLC grew its stake in shares of Fortive Co. (NYSE:FTV) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,143 shares of the technology company’s stock after buying an additional 1,023 shares during the quarter. Summit Trail Advisors LLC’s holdings in Fortive were worth $761,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Fortive during the 3rd quarter worth approximately $25,000. Versant Capital Management Inc boosted its stake in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares during the period. Crews Bank & Trust bought a new position in shares of Fortive in the fourth quarter worth approximately $37,000. Albion Financial Group UT bought a new position in shares of Fortive in the fourth quarter worth approximately $38,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Fortive in the third quarter worth $41,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Down 0.5 %

NYSE FTV opened at $80.14 on Wednesday. The firm has a market capitalization of $27.80 billion, a PE ratio of 31.93, a P/E/G ratio of 2.14 and a beta of 1.15. The stock’s 50 day moving average is $77.69 and its 200 day moving average is $75.47. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

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

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio is 12.75%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. dropped their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Royal Bank of Canada boosted their price target on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday. Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and lowered their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Finally, Argus reiterated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Seven equities research 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 company has a consensus rating of “Moderate Buy” and an average price target of $87.64.

About Fortive

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.