Crestwood Advisors Group LLC Sells 2,496 Shares of Fortive Co. (NYSE:FTV)

Crestwood Advisors Group LLC decreased its holdings in shares of Fortive Co. (NYSE:FTV) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 542,425 shares of the technology company’s stock after selling 2,496 shares during the period. Crestwood Advisors Group LLC owned 0.16% of Fortive worth $40,682,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Mizuho Securities USA LLC grew its stake in shares of Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after acquiring an additional 3,972,855 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Fortive by 1,005.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock worth $152,899,000 after purchasing an additional 1,761,983 shares in the last quarter. Janus Henderson Group PLC grew its position in Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after purchasing an additional 977,428 shares during the last quarter. Holocene Advisors LP increased its stake in Fortive by 1,014.1% during the 3rd quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock valued at $72,984,000 after purchasing an additional 841,671 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Fortive by 59.3% in the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after buying an additional 505,882 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on FTV. Truist Financial increased their price target on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada lifted their target price on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Argus reaffirmed a “hold” rating on shares of Fortive in a report on Monday, November 18th. Barclays reduced their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, UBS Group started coverage on Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price for the company. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.64.

Fortive Stock Performance

Shares of NYSE FTV opened at $80.03 on Monday. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The firm has a market capitalization of $27.77 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $78.20 and a 200 day moving average of $76.20.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the prior year, the business posted $0.98 earnings per share. On average, research analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is currently 13.56%.

Fortive 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.