Thrivent Financial For Lutherans lifted its stake in Fortive Corp (NYSE:FTV) by 922.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,336 shares of the technology company’s stock after purchasing an additional 111,274 shares during the quarter. Thrivent Financial For Lutherans’ holdings in Fortive were worth $8,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Precision Path Capital LP purchased a new stake in shares of Fortive in the fourth quarter worth approximately $1,809,000. Profund Advisors LLC lifted its position in shares of Fortive by 28.2% in the fourth quarter. Profund Advisors LLC now owns 10,556 shares of the technology company’s stock worth $764,000 after purchasing an additional 2,325 shares in the last quarter. Nicholas Investment Partners LP purchased a new stake in shares of Fortive in the fourth quarter worth approximately $6,739,000. MANA Advisors LLC purchased a new stake in shares of Fortive in the fourth quarter worth approximately $1,207,000. Finally, Renaissance Technologies LLC lifted its position in shares of Fortive by 202.2% in the fourth quarter. Renaissance Technologies LLC now owns 869,000 shares of the technology company’s stock worth $62,872,000 after purchasing an additional 581,400 shares in the last quarter. 81.23% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a research report on Friday, March 9th. Zacks Investment Research lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $88.00 price objective on shares of Fortive in a research report on Friday, January 26th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $79.00 price objective on shares of Fortive in a research report on Thursday, January 4th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Fortive currently has an average 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 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 company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. equities research analysts forecast that Fortive Corp will post 3.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be paid a $0.07 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.36%. Fortive’s payout ratio is 9.46%.
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Fortive Company Profile
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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