Fortive Co. (NYSE:FTV) Stake Increased by Global Retirement Partners LLC

Global Retirement Partners LLC increased its holdings in shares of Fortive Co. (NYSE:FTV) by 36.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,778 shares of the technology company’s stock after buying an additional 742 shares during the quarter. Global Retirement Partners LLC’s holdings in Fortive were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. First Hawaiian Bank grew its stake in Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after acquiring an additional 10,125 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after purchasing an additional 10,795 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock valued at $2,832,000 after purchasing an additional 7,829 shares in the last quarter. XTX Topco Ltd acquired a new position in Fortive in the 3rd quarter valued at approximately $1,346,000. Finally, Nordea Investment Management AB increased its stake in Fortive by 23.9% in the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock valued at $118,292,000 after buying an additional 303,788 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Down 0.6 %

Shares of FTV stock opened at $79.62 on Wednesday. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a market cap of $27.62 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $78.34 and its two-hundred day moving average is $76.35.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the prior year, the firm posted $0.98 EPS. Equities analysts predict that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.40%. Fortive’s payout ratio is 13.56%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. UBS Group started coverage on Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target for the company. Finally, Barclays dropped their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.64.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.