Choreo LLC increased its holdings in Fortive Co. (NYSE:FTV - Free Report) by 57.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,148 shares of the technology company's stock after buying an additional 3,692 shares during the quarter. Choreo LLC's holdings in Fortive were worth $761,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Fortive by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company's stock valued at $2,832,000 after acquiring an additional 7,829 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of Fortive by 35.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,838 shares of the technology company's stock valued at $363,000 after purchasing an additional 1,270 shares during the period. Tandem Capital Management Corp ADV boosted its holdings in Fortive by 2.7% during the fourth quarter. Tandem Capital Management Corp ADV now owns 27,397 shares of the technology company's stock worth $2,055,000 after buying an additional 728 shares in the last quarter. Jennison Associates LLC grew its position in Fortive by 0.4% during the fourth quarter. Jennison Associates LLC now owns 391,465 shares of the technology company's stock valued at $29,360,000 after buying an additional 1,545 shares during the period. Finally, Crews Bank & Trust acquired a new stake in Fortive during the fourth quarter valued at $37,000. 94.94% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on FTV. StockNews.com lowered shares of Fortive from a "buy" rating to a "hold" rating in a research note on Monday. JPMorgan Chase & Co. lowered their price target on Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company raised their price objective on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday. Citigroup downgraded Fortive from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Finally, Argus reissued a "hold" rating on shares of Fortive in a research note on Monday, November 18th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.64.
View Our Latest Report on Fortive
Fortive Price Performance
FTV traded up $1.51 on Thursday, hitting $81.68. 2,290,588 shares of the company's stock were exchanged, compared to its average volume of 2,384,279. The firm has a 50-day moving average price of $77.74 and a 200-day moving average price of $75.57. The stock has a market cap of $28.34 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 2.14 and a beta of 1.15. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10.
Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, equities analysts anticipate that Fortive Co. will post 3.84 earnings per share for the current year.
Fortive Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. Fortive's payout ratio is 12.75%.
Fortive Profile
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Free Report)
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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