Defender Capital LLC. Decreases Holdings in Fortive Corporation $FTV

Key Points

• Defender Capital LLC reduced its holdings in Fortive Corporation by 9.8%, now owning approximately $12.95 million in shares.
• Multiple institutional investors, including Brighton Jones LLC, have actively traded Fortive’s stock, indicating heightened interest as 94.94% of shares are owned by institutional investors.
• Recent analyst reports have downgraded Fortive’s price targets, with a consensus rating of "Hold" and a target price of $62.79 as of now.

Defender Capital LLC. reduced its stake in Fortive Corporation (NYSE:FTV - Free Report) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 248,435 shares of the technology company's stock after selling 27,043 shares during the quarter. Fortive makes up approximately 4.4% of Defender Capital LLC.'s investment portfolio, making the stock its 9th biggest position. Defender Capital LLC. owned approximately 0.07% of Fortive worth $12,951,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of FTV. Brighton Jones LLC raised 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 acquiring an additional 2,811 shares during the period. Assenagon Asset Management S.A. raised 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 acquiring an additional 2,161 shares during the period. CX Institutional bought a new stake in Fortive during the first quarter valued at about $189,000. Wealth Enhancement Advisory Services LLC raised its holdings in Fortive by 9.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,525 shares of the technology company's stock valued at $2,673,000 after acquiring an additional 3,285 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Fortive by 37.5% during the first quarter. Exchange Traded Concepts LLC now owns 686 shares of the technology company's stock valued at $50,000 after acquiring an additional 187 shares during the period. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FTV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on Fortive from $87.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Mizuho cut their price objective on Fortive from $85.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Zacks Research upgraded Fortive from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. Truist Financial restated a "hold" rating and set a $55.00 price objective (down previously from $60.00) on shares of Fortive in a research report on Thursday, July 31st. Finally, Wells Fargo & Company cut their price objective 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. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Fortive currently has a consensus rating of "Hold" and a consensus target price of $62.79.

Fortive Trading Up 1.7%

FTV opened at $48.63 on Tuesday. The firm has a market cap of $16.45 billion, a P/E ratio of 21.91, a P/E/G ratio of 3.03 and a beta of 1.15. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average of $48.38 and a 200 day moving average of $58.74.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. The company had revenue of $1.07 billion during the quarter. Fortive had a return on equity of 11.96% and a net margin of 13.62%. As a group, research analysts forecast that Fortive Corporation will post 4.05 EPS for the current 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 $0.06 dividend. 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 (DPR) is currently 10.81%.

Fortive Company 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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