Callan Family Office LLC Invests $3.79 Million in Fortive Corporation $FTV

Callan Family Office LLC purchased a new position in Fortive Corporation (NYSE:FTV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 72,724 shares of the technology company's stock, valued at approximately $3,791,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FTV. Dodge & Cox lifted its position in shares of Fortive by 181.5% in the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company's stock worth $1,602,669,000 after purchasing an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $959,567,000 after purchasing an additional 4,382,242 shares during the period. Invesco Ltd. lifted its position in shares of Fortive by 96.6% in the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company's stock worth $411,781,000 after purchasing an additional 2,764,432 shares during the period. Pacer Advisors Inc. lifted its position in shares of Fortive by 4,854.2% during the 1st quarter. Pacer Advisors Inc. now owns 1,451,325 shares of the technology company's stock valued at $106,208,000 after acquiring an additional 1,422,030 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Fortive during the 1st quarter valued at $76,671,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

FTV has been the topic of a number of research reports. Raymond James Financial dropped their target price on shares of Fortive from $90.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 1st. Royal Bank Of Canada dropped their target price on shares of Fortive from $58.00 to $56.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of Fortive from $87.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Melius Research upgraded shares of Fortive to a "hold" rating in a research report on Tuesday, July 22nd. Finally, Barclays set a $54.00 target price on shares of Fortive and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $62.79.

Fortive Stock Performance

NYSE FTV opened at $47.87 on Friday. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 3.13 and a beta of 1.15. The company has a fifty day moving average price of $48.35 and a 200-day moving average price of $59.13. 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 - Get Free Report) last posted its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The company had revenue of $1.07 billion during the quarter. Fortive had a net margin of 13.62% and a return on equity of 11.96%. As a group, equities research analysts predict that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Cuts Dividend

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

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.

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