Handelsinvest Investeringsforvaltning Sells 2,351 Shares of Fortive Co. (NYSE:FTV)

Handelsinvest Investeringsforvaltning trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,376 shares of the technology company’s stock after selling 2,351 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Fortive were worth $1,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Fortive during the fourth quarter valued at approximately $268,686,000. Brown Advisory Inc. boosted 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 worth $557,929,000 after purchasing an additional 878,523 shares during the last quarter. Panagora Asset Management Inc. boosted 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 worth $46,739,000 after purchasing an additional 630,678 shares during the last quarter. Jennison Associates LLC raised its position in Fortive by 111.7% during the fourth quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company’s stock worth $86,637,000 after acquiring an additional 620,866 shares in the last quarter. Finally, Kodai Capital Management LP bought a new stake in Fortive during the fourth quarter worth $45,557,000. 94.94% of the stock is owned by institutional investors.

Fortive Stock Down 0.1 %

Shares of Fortive stock opened at $72.25 on Wednesday. The company’s 50 day moving average price is $75.04 and its 200-day moving average price is $78.21. Fortive Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The stock has a market capitalization of $25.43 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 2.17 and a beta of 1.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. Equities research analysts forecast that Fortive Co. will post 3.8 EPS for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, May 31st. Fortive’s dividend payout ratio is currently 12.65%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FTV. Royal Bank of Canada dropped their price objective 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. Wells Fargo & Company reduced 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 note on Thursday, April 25th. JPMorgan Chase & Co. downgraded 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 note on Wednesday, April 17th. Barclays raised their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Truist Financial lowered their price target on shares of Fortive from $96.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $85.69.

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.