Acadian Asset Management LLC Purchases 45,048 Shares of Fortive Co. (NYSE:FTV)

Acadian Asset Management LLC raised its position in Fortive Co. (NYSE:FTV) by 2,103.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,190 shares of the technology company’s stock after purchasing an additional 45,048 shares during the period. Acadian Asset Management LLC’s holdings in Fortive were worth $3,494,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FTV. Indiana Trust & Investment Management CO bought a new stake in Fortive during the first quarter valued at $26,000. Advisors Asset Management Inc. bought a new stake in shares of Fortive during the 1st quarter valued at about $32,000. Ridgewood Investments LLC bought a new position in shares of Fortive in the second quarter worth approximately $30,000. International Assets Investment Management LLC purchased a new stake in Fortive in the second quarter valued at approximately $30,000. Finally, J.Safra Asset Management Corp bought a new stake in Fortive during the second quarter valued at approximately $34,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on FTV. Barclays increased their target price on Fortive from $91.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Wells Fargo & Company cut their target price on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $77.00 price target on shares of Fortive in a research note on Friday, September 6th. Finally, Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average price target of $86.23.

Fortive Stock Up 1.2 %

NYSE FTV opened at $73.40 on Friday. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10. The stock has a market capitalization of $25.84 billion, a PE ratio of 29.01, a PEG ratio of 2.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The business’s 50-day moving average is $72.25 and its 200 day moving average is $76.67.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. Sell-side analysts forecast that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.44%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

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.