Agate Pass Investment Management LLC Trims Holdings in Fortive Corporation $FTV

Agate Pass Investment Management LLC decreased its stake in shares of Fortive Corporation (NYSE:FTV) by 5.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,577 shares of the technology company’s stock after selling 500 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Fortive were worth $447,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its position in Fortive by 11.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company’s stock worth $790,000 after buying an additional 1,076 shares in the last quarter. Drake & Associates LLC lifted its position in Fortive by 28.7% during the first quarter. Drake & Associates LLC now owns 22,298 shares of the technology company’s stock worth $1,632,000 after buying an additional 4,978 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Fortive by 13.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,343 shares of the technology company’s stock worth $3,757,000 after acquiring an additional 5,963 shares during the last quarter. Brookstone Capital Management acquired a new stake in Fortive during the first quarter worth $3,542,000. Finally, Perpetual Ltd increased its stake in Fortive by 60.0% during the first quarter. Perpetual Ltd now owns 239,735 shares of the technology company’s stock worth $17,544,000 after acquiring an additional 89,891 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FTV shares. Morgan Stanley reissued an “equal weight” rating and set a $50.00 target price (down previously from $90.00) on shares of Fortive in a research note on Tuesday, September 2nd. Cowen cut Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, July 15th. Wells Fargo & Company cut their target price on Fortive from $72.00 to $55.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 1st. JPMorgan Chase & Co. cut their target price on Fortive from $87.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. Finally, Barclays set a $54.00 target price on Fortive and gave the stock an “equal weight” rating in a research note on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fortive has a consensus rating of “Hold” and an average price target of $62.79.

Fortive Trading Down 2.9%

Shares of NYSE FTV opened at $47.87 on Friday. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $83.32. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $48.35 and a 200-day simple moving average of $59.13. The stock has a market capitalization of $16.20 billion, a PE ratio of 21.56, a PEG ratio of 3.13 and a beta of 1.15.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The business had revenue of $1.07 billion during the quarter. On average, equities analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Fortive’s payout ratio is presently 10.81%.

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.