Alpha Omega Wealth Management LLC Boosts Stock Holdings in Fortive Co. (NYSE:FTV)

Alpha Omega Wealth Management LLC increased its position in shares of Fortive Co. (NYSE:FTV) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,432 shares of the technology company’s stock after purchasing an additional 415 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Fortive were worth $381,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp acquired a new position in Fortive during the first quarter worth about $223,000. Indiana Trust & Investment Management CO acquired a new position in Fortive during the first quarter worth about $26,000. Chesley Taft & Associates LLC grew its position in shares of Fortive by 1.3% in the first quarter. Chesley Taft & Associates LLC now owns 78,478 shares of the technology company’s stock valued at $6,751,000 after purchasing an additional 988 shares during the last quarter. Shorepath Capital Management LLC grew its position in shares of Fortive by 4.2% in the first quarter. Shorepath Capital Management LLC now owns 65,511 shares of the technology company’s stock valued at $5,635,000 after purchasing an additional 2,662 shares during the last quarter. Finally, Compton Wealth Advisory Group LLC acquired a new stake in shares of Fortive in the first quarter valued at approximately $705,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Trading Up 0.7 %

NYSE:FTV traded up $0.53 during trading hours on Friday, reaching $74.10. 3,271,187 shares of the company were exchanged, compared to its average volume of 1,556,272. 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 market cap of $26.09 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 2.16 and a beta of 1.13. Fortive Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The stock has a 50 day simple moving average of $75.20 and a 200 day simple moving average of $78.17.

Fortive (NYSE:FTV) last posted its quarterly 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. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. As a group, analysts predict that Fortive Co. will post 3.8 EPS for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, May 31st. Fortive’s dividend payout ratio is presently 12.65%.

Analysts Set New Price Targets

Several analysts have recently commented on FTV shares. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $95.00 to $90.00 in a research report on Wednesday, April 17th. Wells Fargo & Company lowered their price target on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Barclays increased their price target 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. Royal Bank of Canada lowered their price target on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 25th. Finally, Citigroup decreased their target price on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and a consensus price target 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.