Y Intercept Hong Kong Ltd Invests $1.95 Million in Fortive Corporation $FTV

Y Intercept Hong Kong Ltd acquired a new stake in Fortive Corporation (NYSE:FTV) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 37,386 shares of the technology company’s stock, valued at approximately $1,949,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redmond Asset Management LLC increased its holdings in Fortive by 1.0% in the first quarter. Redmond Asset Management LLC now owns 14,515 shares of the technology company’s stock valued at $1,062,000 after buying an additional 142 shares during the last quarter. Capital Analysts LLC increased its holdings in Fortive by 41.0% in the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after buying an additional 152 shares during the last quarter. Forum Financial Management LP increased its holdings in Fortive by 2.3% in the first quarter. Forum Financial Management LP now owns 7,119 shares of the technology company’s stock valued at $521,000 after buying an additional 161 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Fortive by 19.1% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,092 shares of the technology company’s stock valued at $80,000 after buying an additional 175 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in Fortive by 3.7% in the first quarter. Meeder Advisory Services Inc. now owns 5,591 shares of the technology company’s stock valued at $409,000 after buying an additional 199 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Fortive Stock Performance

Shares of NYSE FTV opened at $50.34 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock has a 50 day simple moving average of $48.83 and a 200-day simple moving average of $57.08. The company has a market cap of $15.99 billion, a PE ratio of 28.77, a P/E/G ratio of 3.08 and a beta of 1.15. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. The business had revenue of $1.07 billion during the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%. On average, equities research analysts forecast that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.06 per share. The ex-dividend date was Friday, September 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Fortive’s payout ratio is currently 13.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FTV shares. JPMorgan Chase & Co. lifted their target price on Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays lifted their target price on Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank Of Canada decreased their target price on Fortive from $58.00 to $56.00 and set a “sector perform” rating for the company in a research note on Thursday, July 31st. Citigroup lifted their target price on Fortive from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Zacks Research upgraded Fortive from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Three equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.79.

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.