Fortive Co. (NYSE:FTV) Stock Position Increased by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in Fortive Co. (NYSE:FTV - Free Report) by 129.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,633 shares of the technology company's stock after buying an additional 41,506 shares during the quarter. Van ECK Associates Corp's holdings in Fortive were worth $5,522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTV. Capital Performance Advisors LLP acquired a new stake in shares of Fortive during the third quarter worth approximately $25,000. Versant Capital Management Inc raised its holdings in Fortive by 186.8% in the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock valued at $34,000 after acquiring an additional 297 shares in the last quarter. Crews Bank & Trust bought a new position in Fortive during the 4th quarter valued at $37,000. Albion Financial Group UT acquired a new position in Fortive during the 4th quarter worth $38,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Fortive in the 3rd quarter worth about $41,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays reduced their price target on shares of Fortive from $95.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company increased their target price on Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their price target on Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. StockNews.com lowered Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Truist Financial lifted their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $87.64.

Fortive Stock Performance

Shares of FTV traded down $1.81 during midday trading on Friday, hitting $80.03. 3,250,439 shares of the stock traded hands, compared to its average volume of 2,425,469. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The business's 50 day moving average price is $78.14 and its two-hundred day moving average price is $75.99. The firm has a market capitalization of $27.77 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 2.71 and a beta of 1.15.

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

Fortive Dividend Announcement

The firm also recently declared 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 is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive's dividend payout ratio (DPR) is presently 13.56%.

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.