Fulton Breakefield Broenniman LLC increased its stake in Fortive Corp (NYSE:FTV) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,927 shares of the technology company’s stock after purchasing an additional 1,339 shares during the period. Fortive accounts for 1.4% of Fulton Breakefield Broenniman LLC’s portfolio, making the stock its 28th largest holding. Fulton Breakefield Broenniman LLC’s holdings in Fortive were worth $11,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of FTV. Massachusetts Financial Services Co. MA grew its position in shares of Fortive by 47.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,759,436 shares of the technology company’s stock worth $531,987,000 after buying an additional 2,490,746 shares during the period. Nuveen Asset Management LLC raised its position in shares of Fortive by 23,241.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,906,599 shares of the technology company’s stock valued at $318,466,000 after acquiring an additional 3,889,862 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Fortive by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 2,232,096 shares of the technology company’s stock valued at $181,961,000 after acquiring an additional 287,449 shares during the last quarter. Waddell & Reed Financial Inc. raised its position in shares of Fortive by 5.7% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,591,528 shares of the technology company’s stock valued at $129,741,000 after acquiring an additional 85,969 shares during the last quarter. Finally, Eaton Vance Management lifted its stake in shares of Fortive by 5.0% in the 2nd quarter. Eaton Vance Management now owns 1,465,168 shares of the technology company’s stock valued at $119,440,000 after purchasing an additional 69,692 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.
In related news, SVP Martin Gafinowitz sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $71.27, for a total value of $2,138,100.00. Following the completion of the transaction, the senior vice president now directly owns 101,169 shares of the company’s stock, valued at approximately $7,210,314.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.70% of the stock is currently owned by corporate insiders.
A number of analysts have recently commented on the company. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research note on Friday, January 3rd. Royal Bank of Canada restated a “hold” rating and set a $79.00 price objective on shares of Fortive in a report on Wednesday, December 18th. JPMorgan Chase & Co. began coverage on shares of Fortive in a research note on Friday, November 15th. They issued a “neutral” rating and a $72.00 target price for the company. Wolfe Research upgraded shares of Fortive from a “peer perform” rating to an “outperform” rating in a report on Thursday, January 9th. Finally, Argus cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. Fortive currently has an average rating of “Buy” and a consensus target price of $81.85.
NYSE FTV traded down $0.46 during trading hours on Tuesday, reaching $78.34. 1,867,806 shares of the company’s stock were exchanged, compared to its average volume of 1,974,532. The company’s 50-day moving average is $75.28 and its two-hundred day moving average is $72.96. Fortive Corp has a one year low of $63.51 and a one year high of $89.48. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.96 and a current ratio of 1.19. The company has a market capitalization of $26.19 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 3.67 and a beta of 1.22.
Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 24th. The technology company reported $0.87 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.87. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortive had a net margin of 37.57% and a return on equity of 17.41%. The business’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Research analysts predict that Fortive Corp will post 3.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a $0.07 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.28 annualized dividend and a yield of 0.36%. Fortive’s dividend payout ratio is currently 9.15%.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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