Callan Family Office LLC Acquires Shares of 72,724 Fortive Corporation $FTV

Callan Family Office LLC acquired a new stake in shares of Fortive Corporation (NYSE:FTV) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 72,724 shares of the technology company’s stock, valued at approximately $3,791,000.

Several other institutional investors have also added to or reduced their stakes in FTV. Brighton Jones LLC lifted its holdings in Fortive by 97.1% during the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after purchasing an additional 2,811 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Fortive during the first quarter valued at about $209,000. Assenagon Asset Management S.A. lifted its holdings in Fortive by 5.0% during the first quarter. Assenagon Asset Management S.A. now owns 45,406 shares of the technology company’s stock valued at $3,323,000 after purchasing an additional 2,161 shares during the last quarter. CX Institutional purchased a new stake in Fortive during the first quarter valued at about $189,000. Finally, Net Worth Advisory Group purchased a new stake in Fortive during the first quarter valued at about $271,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Trading Down 2.9%

Shares of FTV opened at $47.87 on Friday. The firm’s 50 day simple moving average is $48.35 and its 200 day simple moving average is $59.13. The company has a market capitalization of $16.20 billion, a P/E ratio of 21.56, a P/E/G ratio of 3.13 and a beta of 1.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $83.32.

Fortive (NYSE:FTV) last announced its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The business had revenue of $1.07 billion for the quarter. Fortive had a net margin of 13.62% and a return on equity of 11.96%. Sell-side analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, September 12th. Fortive’s dividend payout ratio (DPR) is presently 10.81%.

Analyst Ratings Changes

FTV has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Fortive to a “hold” rating in a report on Friday, September 5th. Wells Fargo & Company lowered their price target on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 1st. Weiss Ratings downgraded shares of Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Melius downgraded shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a report on Tuesday, July 22nd. Finally, Melius Research raised shares of Fortive to a “hold” rating in a report on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.79.

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.