Ferguson Wellman Capital Management Inc. Has $73.58 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Ferguson Wellman Capital Management Inc. trimmed its stake in Fortive Co. (NYSE:FTV) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 981,019 shares of the technology company’s stock after selling 9,029 shares during the quarter. Fortive makes up about 1.4% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 20th biggest holding. Ferguson Wellman Capital Management Inc. owned 0.28% of Fortive worth $73,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in Fortive during the third quarter worth $25,000. Versant Capital Management Inc raised its holdings in shares of Fortive by 186.8% in the 4th 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 stake in shares of Fortive in the 4th quarter valued at about $37,000. Albion Financial Group UT acquired a new stake in Fortive in the 4th quarter valued at about $38,000. Finally, Exchange Traded Concepts LLC bought a new position in Fortive during the third quarter worth about $41,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Down 0.9 %

NYSE FTV opened at $79.12 on Monday. The company has a market cap of $27.45 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 2.14 and a beta of 1.15. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average of $77.65 and a 200-day moving average of $75.36.

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

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s dividend payout ratio (DPR) is 12.75%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FTV shares. Royal Bank of Canada cut their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Barclays reduced their price objective on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. Truist Financial lifted their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, UBS Group assumed coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target on the stock. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.45.

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.