Schubert & Co Acquires New Position in Fortive Co. (NYSE:FTV)

Schubert & Co purchased a new position in Fortive Co. (NYSE:FTV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,155 shares of the technology company's stock, valued at approximately $1,362,000. Fortive makes up about 0.9% of Schubert & Co's portfolio, making the stock its 14th largest holding.

Several other institutional investors have also modified their holdings of FTV. Mizuho Securities USA LLC lifted its stake in Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company's stock worth $315,720,000 after acquiring an additional 3,972,855 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Fortive by 1,005.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company's stock valued at $152,899,000 after purchasing an additional 1,761,983 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company's stock worth $634,701,000 after purchasing an additional 977,428 shares during the last quarter. Holocene Advisors LP grew its stake in shares of Fortive by 1,014.1% during the third quarter. Holocene Advisors LP now owns 924,671 shares of the technology company's stock worth $72,984,000 after purchasing an additional 841,671 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Fortive by 59.3% in the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company's stock valued at $107,271,000 after buying an additional 505,882 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on FTV. Barclays decreased their price target on Fortive from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company upped their price target on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, February 10th. Royal Bank of Canada raised their price objective on shares of Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a report on Monday, February 10th. Citigroup cut shares of Fortive from a "buy" rating to a "neutral" rating and lowered their target price for the company from $92.00 to $86.00 in a report on Monday, December 9th. Finally, UBS Group started coverage on shares of Fortive in a research note on Wednesday, November 13th. They set a "neutral" rating and a $84.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $87.64.

Fortive Stock Performance

Shares of NYSE FTV traded down $1.81 during midday trading on Friday, reaching $80.03. 3,250,439 shares of the company were exchanged, compared to its average volume of 2,436,289. The stock has a market cap of $27.77 billion, a P/E ratio of 33.91, a PEG ratio of 2.71 and a beta of 1.15. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The stock has a fifty day simple moving average of $78.20 and a 200 day simple moving average of $76.07. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the prior year, the company posted $0.98 EPS. On average, research analysts forecast that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 dividend on an annualized basis and a yield of 0.40%. Fortive's payout ratio is currently 13.56%.

About Fortive

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.