TIAA CREF Investment Management LLC lifted its holdings in Fortive Corp (NYSE:FTV) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,547,568 shares of the technology company’s stock after buying an additional 68,079 shares during the period. TIAA CREF Investment Management LLC owned about 1.02% of Fortive worth $256,667,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Calton & Associates Inc. purchased a new position in shares of Fortive during the 4th quarter worth about $107,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Fortive during the 3rd quarter worth about $135,000. Willingdon Wealth Management purchased a new position in shares of Fortive during the 3rd quarter worth about $143,000. Tower Research Capital LLC TRC purchased a new position in shares of Fortive during the 4th quarter worth about $184,000. Finally, Private Advisor Group LLC purchased a new position in shares of Fortive during the 3rd quarter worth about $200,000. 81.23% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Thursday, January 11th. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price target for the company. in a research note on Friday, March 9th. Citigroup lifted their price target on shares of Fortive from $76.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. BMO Capital Markets dropped their price target on shares of Fortive from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of Fortive in a research note on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $77.50.
Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, February 8th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Fortive had a net margin of 15.69% and a return on equity of 30.54%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. equities research analysts anticipate that Fortive Corp will post 3.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, February 23rd will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.28 annualized dividend and a yield of 0.36%. Fortive’s dividend payout ratio (DPR) 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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