Vontobel Holding Ltd. Buys 1,933 Shares of Fortive Corporation $FTV

Vontobel Holding Ltd. grew its stake in Fortive Corporation (NYSE:FTV) by 36.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,295 shares of the technology company’s stock after purchasing an additional 1,933 shares during the period. Vontobel Holding Ltd.’s holdings in Fortive were worth $380,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its stake in shares of Fortive by 97.1% during the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after acquiring an additional 2,811 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Fortive by 9.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,525 shares of the technology company’s stock worth $2,673,000 after acquiring an additional 3,285 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Fortive by 37.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 686 shares of the technology company’s stock worth $50,000 after acquiring an additional 187 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Fortive by 15.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,386 shares of the technology company’s stock worth $906,000 after acquiring an additional 1,625 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Fortive by 3.0% during the 1st quarter. QRG Capital Management Inc. now owns 20,636 shares of the technology company’s stock worth $1,510,000 after acquiring an additional 593 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company decreased their target price on Fortive from $72.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 1st. Zacks Research raised Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. decreased their target price on Fortive from $87.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Mizuho decreased their target price on Fortive from $85.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. Finally, TD Cowen downgraded Fortive from a “buy” rating to a “hold” rating and cut their price target for the company from $85.00 to $50.00 in a report on Tuesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Fortive has an average rating of “Hold” and a consensus target price of $62.79.

Fortive Stock Performance

Shares of FTV opened at $48.99 on Wednesday. The stock has a 50-day moving average of $48.39 and a two-hundred day moving average of $58.67. Fortive Corporation has a one year low of $46.34 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. The stock has a market cap of $16.57 billion, a P/E ratio of 22.07, a P/E/G ratio of 3.08 and a beta of 1.15.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The company had revenue of $1.07 billion during the quarter. As a group, research analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Fortive’s payout ratio is 10.81%.

About Fortive

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.