Scotia Capital Inc. Acquires 4,640 Shares of Fortive Co. (NYSE:FTV)

Scotia Capital Inc. raised its holdings in Fortive Co. (NYSE:FTVGet Rating) by 70.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,270 shares of the technology company’s stock after buying an additional 4,640 shares during the quarter. Scotia Capital Inc.’s holdings in Fortive were worth $613,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Zions Bancorporation N.A. grew its position in shares of Fortive by 21.8% in the 1st quarter. Zions Bancorporation N.A. now owns 977 shares of the technology company’s stock worth $59,000 after buying an additional 175 shares during the last quarter. Regentatlantic Capital LLC grew its position in shares of Fortive by 5.5% in the 1st quarter. Regentatlantic Capital LLC now owns 3,444 shares of the technology company’s stock worth $210,000 after buying an additional 180 shares during the last quarter. Kinneret Advisory LLC grew its position in shares of Fortive by 2.2% in the 2nd quarter. Kinneret Advisory LLC now owns 8,503 shares of the technology company’s stock worth $462,000 after buying an additional 180 shares during the last quarter. Sumitomo Life Insurance Co. grew its position in shares of Fortive by 1.4% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 13,056 shares of the technology company’s stock worth $710,000 after buying an additional 184 shares during the last quarter. Finally, Bull Street Advisors LLC grew its position in shares of Fortive by 1.0% in the 1st quarter. Bull Street Advisors LLC now owns 18,477 shares of the technology company’s stock worth $1,126,000 after buying an additional 190 shares during the last quarter. 94.65% of the stock is currently owned by institutional investors.

Fortive Stock Down 0.1 %

Fortive stock opened at $64.54 on Tuesday. The firm has a market cap of $22.83 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 2.33 and a beta of 1.13. The stock has a fifty day simple moving average of $62.15 and a two-hundred day simple moving average of $60.67. Fortive Co. has a 12 month low of $52.47 and a 12 month high of $79.87. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 0.27.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Wednesday, November 30th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Tuesday, November 29th. Fortive’s payout ratio is currently 14.66%.

Analysts Set New Price Targets

FTV has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Fortive from $63.00 to $64.00 and gave the company an “equal weight” rating in a research note on Thursday, October 27th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Thursday, October 20th. Credit Suisse Group lowered their price objective on Fortive from $79.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, October 27th. Royal Bank of Canada lifted their price objective on Fortive from $61.00 to $68.00 in a research note on Friday, July 29th. Finally, Mizuho lowered their price objective on Fortive from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, July 18th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.57.

Fortive Profile

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Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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