Fortive Corporation $FTV Shares Bought by Brookstone Capital Management

Brookstone Capital Management raised its position in Fortive Corporation (NYSE:FTV) by 5.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 50,996 shares of the technology company’s stock after buying an additional 2,600 shares during the quarter. Brookstone Capital Management’s holdings in Fortive were worth $2,658,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Dodge & Cox increased its stake in Fortive by 181.5% in the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock valued at $1,602,669,000 after buying an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Fortive by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock valued at $959,567,000 after buying an additional 4,382,242 shares during the period. Invesco Ltd. increased its stake in Fortive by 96.6% in the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock valued at $411,781,000 after buying an additional 2,764,432 shares during the period. Select Equity Group L.P. boosted its position in shares of Fortive by 4.9% during the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock worth $330,012,000 after purchasing an additional 212,025 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Fortive by 2.8% during the 1st quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock worth $297,691,000 after purchasing an additional 109,307 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FTV shares. Wells Fargo & Company decreased their target price on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 1st. Weiss Ratings lowered shares of Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Morgan Stanley restated an “equal weight” rating and set a $50.00 target price (down from $90.00) on shares of Fortive in a research report on Tuesday, September 2nd. Cowen lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $53.00 target price (down from $58.00) on shares of Fortive in a research report on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $61.14.

Fortive Price Performance

Fortive stock opened at $49.46 on Friday. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32. The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $48.63 and its 200 day simple moving average is $57.67. The firm has a market capitalization of $16.74 billion, a PE ratio of 22.28, a P/E/G ratio of 3.15 and a beta of 1.15.

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

Fortive Cuts Dividend

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