Caisse DE Depot ET Placement DU Quebec lessened its stake in Fortive Corp (NYSE:FTV) by 28.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,200 shares of the technology company’s stock after selling 20,000 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Fortive were worth $3,704,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. boosted its position in shares of Fortive by 84.8% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 505,829 shares of the technology company’s stock valued at $36,597,000 after purchasing an additional 232,149 shares in the last quarter. Lombard Odier Asset Management Switzerland SA boosted its position in shares of Fortive by 2.2% during the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 36,741 shares of the technology company’s stock valued at $2,658,000 after purchasing an additional 774 shares in the last quarter. Water Island Capital LLC bought a new stake in shares of Fortive during the 4th quarter valued at about $569,000. WINTON GROUP Ltd boosted its position in shares of Fortive by 378.6% during the 4th quarter. WINTON GROUP Ltd now owns 200,494 shares of the technology company’s stock valued at $14,506,000 after purchasing an additional 158,599 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Fortive by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 3,451,046 shares of the technology company’s stock valued at $249,190,000 after purchasing an additional 69,989 shares in the last quarter. Hedge funds and other institutional investors own 81.23% of the company’s stock.
FTV has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on Fortive in a research report on Wednesday, November 15th. They set an “outperform” rating and a $82.00 target price on the stock. ValuEngine lowered Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Argus upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research lowered Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Finally, Royal Bank of Canada restated a “hold” rating and set a $79.00 target price on shares of Fortive in a research report on Thursday, January 4th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $77.50.
Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, February 8th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.77 billion. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. equities analysts expect that Fortive Corp will post 3.42 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, February 23rd will be issued a $0.07 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $0.28 annualized dividend and a yield of 0.36%. Fortive’s payout ratio is currently 10.14%.
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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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