Crestwood Advisors Group LLC Cuts Stock Position in Fortive Co. (NYSE:FTV)

Crestwood Advisors Group LLC trimmed its holdings in Fortive Co. (NYSE:FTV) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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’s holdings in Fortive were worth $40,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in FTV. Capital Performance Advisors LLP purchased a new position in Fortive in the 3rd quarter worth approximately $25,000. Versant Capital Management Inc raised its position in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after buying an additional 297 shares during the last quarter. Crews Bank & Trust purchased a new position in shares of Fortive in the fourth quarter worth $37,000. Albion Financial Group UT bought a new position in shares of Fortive during the fourth quarter worth $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Fortive during the third quarter valued at $57,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on FTV shares. Truist Financial boosted their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Barclays cut their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company increased their target price on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada boosted their price target on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.64.

Fortive Stock Down 2.2 %

NYSE FTV opened at $80.03 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The firm has a market capitalization of $27.77 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.68 and a beta of 1.15. The company has a fifty day moving average of $78.20 and a two-hundred day moving average of $76.20.

Fortive (NYSE:FTV) last released 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 net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend 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.