Fortive Corp (FTV) Stake Increased by Wendell David Associates Inc.
Wendell David Associates Inc. boosted its holdings in Fortive Corp (NYSE:FTV) by 9.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,135 shares of the technology company’s stock after purchasing an additional 1,250 shares during the quarter. Wendell David Associates Inc.’s holdings in Fortive were worth $1,095,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of FTV. Federated Investors Inc. PA grew its position in Fortive by 185.2% in the 2nd quarter. Federated Investors Inc. PA now owns 8,330 shares of the technology company’s stock valued at $528,000 after purchasing an additional 5,409 shares during the period. Commonwealth Bank of Australia grew its position in Fortive by 15.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 10,022 shares of the technology company’s stock valued at $634,000 after purchasing an additional 1,350 shares during the period. Ameriprise Financial Inc. grew its position in Fortive by 2.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 628,105 shares of the technology company’s stock valued at $39,791,000 after purchasing an additional 16,251 shares during the period. BlackRock Inc. grew its position in Fortive by 11.7% in the 2nd quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock valued at $1,171,255,000 after purchasing an additional 1,934,309 shares during the period. Finally, Amalgamated Bank grew its position in Fortive by 66.4% in the 2nd quarter. Amalgamated Bank now owns 36,089 shares of the technology company’s stock valued at $2,286,000 after purchasing an additional 14,403 shares during the period. 78.80% of the stock is owned by institutional investors and hedge funds.
FTV has been the subject of several research reports. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. SunTrust Banks reissued a “buy” rating and issued a $81.00 price target on shares of Fortive in a research report on Friday, October 27th. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Tuesday, September 26th. Morgan Stanley reissued an “equal weight” rating and issued a $72.00 price target (up previously from $71.00) on shares of Fortive in a research report on Monday, October 2nd. Finally, ValuEngine downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $72.60.
Fortive Corp (NYSE:FTV) traded up $0.76 on Tuesday, reaching $74.47. 1,283,200 shares of the company’s stock were exchanged, compared to its average volume of 1,313,222. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06. The stock has a market cap of $25,890.00 and a P/E ratio of 28.10. Fortive Corp has a 1 year low of $53.59 and a 1 year high of $75.69.
Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.66 billion. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 EPS. sell-side analysts forecast that Fortive Corp will post 2.85 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, November 24th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Wednesday, November 22nd. Fortive’s dividend payout ratio is 10.57%.
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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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