Deutsche Bank AG increased its position in Fortive Corp (NYSE:FTV) by 34.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 982,730 shares of the technology company’s stock after buying an additional 249,377 shares during the quarter. Deutsche Bank AG owned about 0.28% of Fortive worth $71,094,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in FTV. Nationwide Fund Advisors lifted its holdings in shares of Fortive by 0.5% in the third quarter. Nationwide Fund Advisors now owns 162,953 shares of the technology company’s stock valued at $11,535,000 after buying an additional 798 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Fortive by 799.1% in the third quarter. Victory Capital Management Inc. now owns 46,706 shares of the technology company’s stock valued at $3,306,000 after buying an additional 41,511 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Fortive by 1.2% in the third quarter. Principal Financial Group Inc. now owns 480,937 shares of the technology company’s stock valued at $34,042,000 after buying an additional 5,673 shares during the period. Global X MANAGEMENT CO LLC lifted its holdings in shares of Fortive by 19.5% in the third quarter. Global X MANAGEMENT CO LLC now owns 11,857 shares of the technology company’s stock valued at $839,000 after buying an additional 1,931 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Fortive by 54.6% in the third quarter. BNP Paribas Arbitrage SA now owns 187,631 shares of the technology company’s stock valued at $13,282,000 after buying an additional 66,280 shares during the period. Institutional investors and hedge funds own 81.23% of the company’s stock.
FTV has been the subject of several research analyst reports. Barclays initiated coverage on Fortive in a report on Thursday, February 15th. They issued an “overweight” rating and a $86.00 price objective for the company. BMO Capital Markets reduced their target price on Fortive from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Wednesday, February 14th. Citigroup upped their target price on Fortive from $76.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 target price for the company. in a report on Friday. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Fortive currently has a consensus rating of “Hold” and a consensus target price of $77.50.
Fortive (NYSE:FTV) last announced its earnings results on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the business posted $0.68 earnings per share. Fortive’s revenue was up 11.0% compared to the same quarter last year. sell-side analysts anticipate that Fortive Corp will post 3.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 23rd will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortive’s payout ratio is 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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