Fortive Co. (NYSE:FTV) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Fortive Co. (NYSE:FTV) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 395,290 shares of the technology company’s stock after selling 13,455 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Fortive worth $29,291,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FTV. Quadrant Capital Group LLC lifted its holdings in Fortive by 4.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock valued at $201,000 after acquiring an additional 126 shares during the last quarter. Lipe & Dalton lifted its stake in Fortive by 1.9% during the first quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock valued at $610,000 after purchasing an additional 130 shares during the last quarter. RDA Financial Network boosted its holdings in Fortive by 3.4% during the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after buying an additional 138 shares in the last quarter. Pitcairn Co. grew its position in Fortive by 1.3% in the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock worth $961,000 after buying an additional 139 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in Fortive by 0.8% in the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after buying an additional 146 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FTV shares. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Saturday, August 3rd. Wells Fargo & Company decreased their price target on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Barclays decreased their target price on shares of Fortive from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Truist Financial cut their price target on shares of Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.91.

Fortive Stock Up 0.9 %

Fortive stock opened at $74.40 on Monday. Fortive Co. has a twelve month low of $63.05 and a twelve month high of $87.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The firm has a market cap of $26.07 billion, a PE ratio of 29.41, a P/E/G ratio of 2.17 and a beta of 1.12. The firm’s 50 day moving average price is $72.34 and its two-hundred day moving average price is $77.33.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the company posted $0.85 EPS. Fortive’s revenue was up 1.7% on a year-over-year basis. On average, research analysts predict that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s dividend payout ratio is 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.