Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 26.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,502 shares of the technology company's stock after acquiring an additional 7,829 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Fortive were worth $2,832,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Fortive in the third quarter worth about $25,000. Versant Capital Management Inc grew its position in Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock valued at $34,000 after buying an additional 297 shares during the period. Crews Bank & Trust purchased a new position in shares of Fortive in the 4th quarter valued at about $37,000. Albion Financial Group UT acquired a new position in Fortive in the 4th quarter worth about $38,000. Finally, Exchange Traded Concepts LLC purchased a new position in Fortive during the third quarter worth approximately $41,000. 94.94% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
FTV has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. UBS Group started coverage on shares of Fortive in a report on Wednesday, November 13th. They set a "neutral" rating and a $84.00 price objective on the stock. Argus reissued a "hold" rating on shares of Fortive in a research note on Monday, November 18th. Finally, StockNews.com lowered shares of Fortive from a "buy" rating to a "hold" rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.64.
Get Our Latest Report on FTV
Fortive Price Performance
Shares of Fortive stock traded up $1.51 on Thursday, hitting $81.68. 2,290,588 shares of the company were exchanged, compared to its average volume of 2,384,279. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $28.34 billion, a price-to-earnings ratio of 32.54, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. The company has a 50-day moving average price of $77.74 and a 200 day moving average price of $75.57.
Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period in the prior year, the firm posted $0.98 earnings per share. As a group, sell-side analysts predict that Fortive Co. will post 3.84 earnings per share for the current fiscal year.
Fortive Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.39%. Fortive's payout ratio is 12.75%.
Fortive Company 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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