Wellington Management Group LLP Decreases Stock Position in Fortive Co. (NYSE:FTV)

Wellington Management Group LLP lowered its stake in Fortive Co. (NYSE:FTV) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,345,932 shares of the technology company’s stock after selling 2,746,603 shares during the period. Wellington Management Group LLP owned approximately 4.65% of Fortive worth $1,203,551,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Quadrant Capital Group LLC increased its holdings in Fortive by 4.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock valued at $201,000 after purchasing an additional 126 shares during the period. Edgemoor Investment Advisors Inc. increased its holdings in Fortive by 4.8% during the 4th quarter. Edgemoor Investment Advisors Inc. now owns 3,249 shares of the technology company’s stock valued at $239,000 after purchasing an additional 150 shares during the period. Global Retirement Partners LLC increased its holdings in Fortive by 17.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock valued at $80,000 after purchasing an additional 167 shares during the period. Redmond Asset Management LLC increased its holdings in Fortive by 1.4% during the 4th quarter. Redmond Asset Management LLC now owns 13,386 shares of the technology company’s stock valued at $986,000 after purchasing an additional 179 shares during the period. Finally, Spire Wealth Management increased its holdings in Fortive by 69.3% during the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FTV. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Citigroup reduced their target price on Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada reduced their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, April 25th. Barclays upped their target price on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company reduced their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and an average price target of $86.46.

Fortive Stock Down 0.3 %

Shares of FTV traded down $0.24 during mid-day trading on Friday, reaching $72.73. The company had a trading volume of 1,754,235 shares, compared to its average volume of 1,284,288. The company has a market capitalization of $25.60 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 2.13 and a beta of 1.13. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. The firm has a 50-day moving average price of $76.92 and a 200 day moving average price of $77.94.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. On average, sell-side analysts forecast that Fortive Co. will post 3.8 EPS for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 0.44%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

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.