Redmond Asset Management LLC Has $1.08 Million Stake in Fortive Co. (NYSE:FTV)

Redmond Asset Management LLC grew its position in shares of Fortive Co. (NYSE:FTV) by 7.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,373 shares of the technology company’s stock after acquiring an additional 1,055 shares during the period. Redmond Asset Management LLC’s holdings in Fortive were worth $1,078,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. First Hawaiian Bank lifted its holdings in shares of Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after buying an additional 10,125 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Fortive by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after purchasing an additional 10,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Fortive by 26.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock worth $2,832,000 after purchasing an additional 7,829 shares during the last quarter. XTX Topco Ltd acquired a new stake in Fortive in the 3rd quarter worth approximately $1,346,000. Finally, Nordea Investment Management AB lifted its holdings in Fortive by 23.9% in the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock worth $118,292,000 after purchasing an additional 303,788 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Performance

Shares of NYSE:FTV opened at $80.03 on Friday. The business’s fifty day moving average price is $78.20 and its two-hundred day moving average price is $76.07. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The stock has a market capitalization of $27.77 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 2.71 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period last year, the company earned $0.98 EPS. As a group, analysts predict that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio is currently 13.56%.

Analyst Ratings Changes

FTV has been the topic of several recent analyst reports. Royal Bank of Canada lifted their price target on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Barclays dropped their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Finally, StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Seven research 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.com, Fortive currently has an average rating of “Moderate Buy” and a consensus price target of $87.64.

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.