Manchester Capital Management LLC Grows Stake in Fortive Co. (NYSE:FTV)

Manchester Capital Management LLC boosted its position in shares of Fortive Co. (NYSE:FTV) by 13.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,400 shares of the technology company’s stock after purchasing an additional 165 shares during the quarter. Manchester Capital Management LLC’s holdings in Fortive were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of FTV. Capital Performance Advisors LLP purchased a new position in Fortive during the 3rd quarter worth $25,000. Versant Capital Management Inc increased its holdings in Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares during the period. Crews Bank & Trust purchased a new position in Fortive during the 4th quarter worth $37,000. Albion Financial Group UT purchased a new position in Fortive during the 4th quarter worth $38,000. Finally, Exchange Traded Concepts LLC purchased a new position in Fortive during the 3rd quarter worth $41,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Down 1.3 %

Shares of FTV stock opened at $80.59 on Friday. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The stock’s fifty day moving average price is $77.83 and its 200 day moving average price is $75.67. 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 company has a market cap of $27.96 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15.

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

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s dividend payout ratio is currently 12.75%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. JPMorgan Chase & Co. cut their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. UBS Group started coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target on the stock. Finally, Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and cut their price target for the company from $92.00 to $86.00 in a report on Monday, December 9th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

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.