Eqis Capital Management Inc. decreased its stake in shares of Fortive Corp (NYSE:FTV) by 7.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,717 shares of the technology company’s stock after selling 880 shares during the period. Eqis Capital Management Inc.’s holdings in Fortive were worth $735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. DNB Asset Management AS grew its position in Fortive by 5.1% in the second quarter. DNB Asset Management AS now owns 62,629 shares of the technology company’s stock worth $5,106,000 after acquiring an additional 3,055 shares in the last quarter. Douglas Lane & Associates LLC lifted its stake in Fortive by 2.4% in the second quarter. Douglas Lane & Associates LLC now owns 499,513 shares of the technology company’s stock worth $40,720,000 after purchasing an additional 11,617 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Fortive by 1.2% in the second quarter. Crossmark Global Holdings Inc. now owns 19,528 shares of the technology company’s stock worth $1,592,000 after purchasing an additional 226 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Fortive by 0.3% in the second quarter. Retirement Systems of Alabama now owns 137,522 shares of the technology company’s stock worth $11,211,000 after purchasing an additional 402 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in Fortive by 5.4% in the second quarter. Zions Bancorporation N.A. now owns 3,390 shares of the technology company’s stock worth $277,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Several research firms have weighed in on FTV. Berenberg Bank set a $86.00 price target on shares of Fortive and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Citigroup lowered their price target on shares of Fortive from $86.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Morgan Stanley lowered their price target on shares of Fortive from $85.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Raymond James set a $84.00 price target on shares of Fortive and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Credit Suisse Group boosted their price target on shares of Fortive from $73.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Fortive has an average rating of “Hold” and an average price target of $78.25.

Shares of NYSE:FTV traded up $0.41 during midday trading on Thursday, hitting $71.39. 162,831 shares of the stock traded hands, compared to its average volume of 2,051,305. The stock has a market capitalization of $24.20 billion, a PE ratio of 23.33, a P/E/G ratio of 2.62 and a beta of 1.21. The business’s 50 day moving average is $69.30 and its two-hundred day moving average is $74.77. The company has a quick ratio of 0.96, a current ratio of 1.19 and a debt-to-equity ratio of 0.72. Fortive Corp has a one year low of $62.89 and a one year high of $89.48.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, October 24th. The technology company reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortive had a net margin of 37.57% and a return on equity of 17.41%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. As a group, sell-side analysts forecast that Fortive Corp will post 3.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, November 27th. Fortive’s dividend payout ratio (DPR) is 9.15%.

Fortive Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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