Csenge Advisory Group Has $481,000 Position in Fortive Co. (NYSE:FTV)

Csenge Advisory Group cut its position in shares of Fortive Co. (NYSE:FTV) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,408 shares of the technology company’s stock after selling 497 shares during the quarter. Csenge Advisory Group’s holdings in Fortive were worth $481,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new stake in shares of Fortive during the 3rd quarter worth approximately $41,000. Vontobel Holding Ltd. lifted its position in Fortive by 7.3% in the third quarter. Vontobel Holding Ltd. now owns 5,872 shares of the technology company’s stock worth $463,000 after purchasing an additional 402 shares during the period. Blue Trust Inc. boosted its stake in Fortive by 228.7% during the third quarter. Blue Trust Inc. now owns 1,778 shares of the technology company’s stock worth $132,000 after buying an additional 1,237 shares in the last quarter. Raymond James & Associates increased its holdings in Fortive by 15.0% in the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after buying an additional 51,690 shares during the period. Finally, OLD National Bancorp IN raised its stake in shares of Fortive by 4.6% in the 3rd quarter. OLD National Bancorp IN now owns 4,796 shares of the technology company’s stock valued at $379,000 after buying an additional 211 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. UBS Group initiated coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price for the company. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and reduced their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Truist Financial boosted their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company raised their price target on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.64.

Fortive Price Performance

Shares of NYSE:FTV opened at $81.75 on Wednesday. The company has a market cap of $28.36 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 2.14 and a beta of 1.15. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The firm has a 50 day simple moving average of $77.87 and a 200 day simple moving average of $75.80.

Fortive (NYSE:FTV) last released its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same quarter last year, the business posted $0.98 earnings per share. Research analysts predict that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s payout ratio is presently 12.75%.

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.