Sequoia Financial Advisors LLC Acquires 5,871 Shares of Fortive Corporation $FTV

Key Points

• Sequoia Financial Advisors LLC increased its holdings in Fortive Corporation by 55.1%, owning a total of 16,520 shares valued at $861,000.
• Fortive recently cut its quarterly dividend to $0.06 per share, resulting in an annualized dividend of $0.24 and a yield of 0.5%.
• Analysts have mixed opinions on Fortive, with the consensus rating at "Hold" and a target price of $61.14, following recent downgrades from several brokerages.

Sequoia Financial Advisors LLC lifted its holdings in Fortive Corporation (NYSE:FTV - Free Report) by 55.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,520 shares of the technology company's stock after buying an additional 5,871 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Fortive were worth $861,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Accent Capital Management LLC bought a new position in shares of Fortive in the first quarter valued at about $26,000. Geneos Wealth Management Inc. increased its position in Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company's stock worth $37,000 after purchasing an additional 357 shares during the period. Capital Analysts LLC increased its position in Fortive by 41.0% in the first quarter. Capital Analysts LLC now owns 523 shares of the technology company's stock worth $38,000 after purchasing an additional 152 shares during the period. Banque Transatlantique SA increased its position in Fortive by 92.8% in the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company's stock worth $38,000 after purchasing an additional 270 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in Fortive by 37.5% in the first quarter. Exchange Traded Concepts LLC now owns 686 shares of the technology company's stock worth $50,000 after purchasing an additional 187 shares during the period. 94.94% of the stock is owned by institutional investors.

Fortive Price Performance

Fortive stock opened at $48.69 on Friday. The firm has a market capitalization of $16.47 billion, a P/E ratio of 21.93, a PEG ratio of 3.08 and a beta of 1.15. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The business has a 50-day moving average of $48.47 and a 200-day moving average of $58.15. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28.

Fortive (NYSE:FTV - Get Free Report) last posted its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The company had revenue of $1.07 billion during the quarter. On average, equities analysts anticipate that Fortive Corporation will post 4.05 EPS for the current 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%.

Analysts Set New Price Targets

A number of brokerages recently commented on FTV. Zacks Research upgraded Fortive from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $53.00 price objective (down from $58.00) on shares of Fortive in a research report on Wednesday. Royal Bank Of Canada lowered their price objective on Fortive from $58.00 to $56.00 and set a "sector perform" rating for the company in a research report on Thursday, July 31st. Wall Street Zen upgraded Fortive to a "hold" rating in a research report on Friday, September 5th. Finally, TD Cowen lowered Fortive from a "buy" rating to a "hold" rating and decreased their target price for the stock from $85.00 to $50.00 in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Fortive has a consensus rating of "Hold" and a consensus target price of $61.14.

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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