Cannell & Co. boosted its holdings in Fortive Co. (NYSE:FTV – Free Report) by 15.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 281,435 shares of the technology company’s stock after acquiring an additional 37,250 shares during the period. Cannell & Co. owned about 0.08% of Fortive worth $21,043,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FTV. Bank Julius Baer & Co. Ltd Zurich boosted its position in Fortive by 95,666.8% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 88,663,752 shares of the technology company’s stock valued at $6,629,389,000 after purchasing an additional 88,571,169 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in shares of Fortive by 61,103.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,600,591 shares of the technology company’s stock valued at $231,338,000 after acquiring an additional 3,594,708 shares during the period. Boston Partners grew its position in shares of Fortive by 120.5% during the first quarter. Boston Partners now owns 5,798,615 shares of the technology company’s stock worth $394,299,000 after acquiring an additional 3,168,489 shares during the last quarter. Norges Bank acquired a new stake in shares of Fortive in the 4th quarter worth about $193,761,000. Finally, FMR LLC boosted its stake in Fortive by 7.3% during the 1st quarter. FMR LLC now owns 18,321,854 shares of the technology company’s stock valued at $1,249,001,000 after purchasing an additional 1,248,629 shares during the period. 95.95% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on FTV. TD Cowen lifted their price target on Fortive from $70.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, August 23rd. Wells Fargo & Company decreased their price target on Fortive from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, October 26th. Seaport Res Ptn restated a “buy” rating on shares of Fortive in a research note on Monday, August 7th. Robert W. Baird raised their target price on shares of Fortive from $82.00 to $85.00 in a research note on Thursday, July 27th. Finally, Citigroup increased their price objective on shares of Fortive from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Fortive presently has an average rating of “Moderate Buy” and a consensus price target of $78.46.
Fortive Trading Up 2.1 %
Shares of NYSE:FTV traded up $1.39 during midday trading on Tuesday, reaching $66.71. The company had a trading volume of 823,671 shares, compared to its average volume of 1,998,469. The company has a fifty day simple moving average of $72.16 and a two-hundred day simple moving average of $72.09. The firm has a market cap of $23.44 billion, a price-to-earnings ratio of 28.03 and a beta of 1.15. Fortive Co. has a 1-year low of $62.70 and a 1-year high of $79.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.79 and a current ratio of 1.02.
Fortive (NYSE:FTV – Get Free Report) last released its earnings results on Wednesday, October 25th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Fortive had a return on equity of 11.96% and a net margin of 13.77%. Research analysts predict that Fortive Co. will post 3.39 earnings per share for the current year.
Fortive Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.08 per share. This is an increase from Fortive’s previous quarterly dividend of $0.07. The ex-dividend date is Wednesday, November 22nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.48%. Fortive’s payout ratio is currently 12.02%.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.
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