Atlantic Union Bankshares Corp Invests $223,000 in Fortive Co. (NYSE:FTV)

Atlantic Union Bankshares Corp acquired a new stake in shares of Fortive Co. (NYSE:FTV) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,588 shares of the technology company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FTV. Wellington Management Group LLP grew its holdings in shares of Fortive by 1.0% during the third quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock worth $1,415,902,000 after purchasing an additional 181,948 shares in the last quarter. Flossbach Von Storch AG grew its stake in Fortive by 4.8% in the 4th quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock worth $817,873,000 after buying an additional 512,414 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of Fortive by 13.1% in the 4th quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock worth $557,929,000 after buying an additional 878,523 shares during the last quarter. Capital World Investors raised its position in shares of Fortive by 0.6% during the 4th quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock valued at $430,568,000 after buying an additional 33,990 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Fortive during the 4th quarter worth $268,686,000. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.7 %

Fortive stock traded up $0.53 during mid-day trading on Friday, reaching $74.10. The stock had a trading volume of 3,195,214 shares, compared to its average volume of 1,654,839. The company has a market capitalization of $26.09 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 2.14 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The company has a 50-day moving average price of $75.20 and a two-hundred day moving average price of $78.12.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. On average, analysts expect that Fortive Co. will post 3.8 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, May 31st. Fortive’s payout ratio is presently 12.65%.

Analyst Ratings Changes

A number of research firms have weighed in on FTV. Barclays raised their price target on 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 cut their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, April 25th. Truist Financial started coverage on shares of Fortive in a research note on Thursday, March 14th. They set a “buy” rating and a $99.00 price target on the stock. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Finally, Wells Fargo & Company decreased their target price 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. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $86.46.

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.