GraniteShares Advisors LLC Lowers Stock Holdings in Fortive Co. (NYSE:FTV)

GraniteShares Advisors LLC trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 21.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,419 shares of the technology company’s stock after selling 1,976 shares during the period. GraniteShares Advisors LLC’s holdings in Fortive were worth $556,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Fortive in the 3rd quarter worth approximately $25,000. Versant Capital Management Inc raised its holdings in Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after acquiring an additional 297 shares during the last quarter. Crews Bank & Trust purchased a new position in Fortive in the 4th quarter worth approximately $37,000. Albion Financial Group UT purchased a new position in Fortive in the 4th quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Fortive in the 3rd quarter worth approximately $57,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Truist Financial lifted their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and cut their target price for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Argus reaffirmed a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Finally, Wells Fargo & Company lifted their target price on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.64.

Fortive Trading Down 0.6 %

Shares of FTV stock opened at $79.62 on Wednesday. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The firm has a fifty day moving average price of $78.34 and a 200-day moving average price of $76.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The company has a market cap of $27.62 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 2.68 and a beta of 1.15.

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. As a group, equities analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio is currently 13.56%.

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.