Goldman Sachs Group Inc. lifted its holdings in Fortive Corp (NYSE:FTV) by 3.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,958,371 shares of the technology company’s stock after acquiring an additional 94,283 shares during the quarter. Goldman Sachs Group Inc. owned 0.85% of Fortive worth $214,038,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Calton & Associates Inc. bought a new stake in Fortive during the 4th quarter valued at $107,000. Steward Partners Investment Advisory LLC bought a new stake in Fortive during the 3rd quarter valued at $135,000. Willingdon Wealth Management bought a new stake in Fortive during the 3rd quarter valued at $143,000. Tower Research Capital LLC TRC bought a new stake in Fortive during the 4th quarter valued at $184,000. Finally, Private Advisor Group LLC bought a new stake in Fortive during the 3rd quarter valued at $200,000. Hedge funds and other institutional investors own 81.23% of the company’s stock.
A number of equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. BMO Capital Markets assumed coverage on shares of Fortive in a research report on Wednesday, November 15th. They set an “outperform” rating and a $82.00 price objective on the stock. ValuEngine downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, UBS Group assumed coverage on shares of Fortive in a research report on Monday, January 22nd. They set a “buy” rating on the stock. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Fortive presently has a consensus rating of “Hold” and a consensus price target of $77.50.
Fortive (NYSE:FTV) last released its earnings results on Thursday, February 8th. The technology company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.77 billion. Fortive had a net margin of 15.69% and a return on equity of 30.54%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. equities research analysts predict that Fortive Corp will post 3.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortive’s dividend payout ratio is presently 9.46%.
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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