Bailard Inc. reduced its stake in shares of Fortive Corp (NYSE:FTV) by 10.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 35,819 shares of the technology company’s stock after selling 4,294 shares during the period. Bailard Inc.’s holdings in Fortive were worth $2,592,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. APG Asset Management N.V. raised its holdings in shares of Fortive by 49.7% in the third quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock valued at $154,483,000 after purchasing an additional 724,400 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Fortive by 24.5% in the second quarter. Toronto Dominion Bank now owns 104,177 shares of the technology company’s stock valued at $6,598,000 after purchasing an additional 20,519 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Fortive by 14.0% in the third quarter. JPMorgan Chase & Co. now owns 2,221,540 shares of the technology company’s stock valued at $155,332,000 after purchasing an additional 273,003 shares during the last quarter. Westpac Banking Corp raised its holdings in shares of Fortive by 321.1% in the fourth quarter. Westpac Banking Corp now owns 84,842 shares of the technology company’s stock valued at $6,138,000 after purchasing an additional 64,693 shares during the last quarter. Finally, Stephens Inc. AR acquired a new stake in shares of Fortive in the third quarter valued at approximately $357,000. Hedge funds and other institutional investors own 78.59% of the company’s stock.
A number of analysts have recently issued reports on FTV shares. BMO Capital Markets started coverage on shares of Fortive in a report on Wednesday, November 15th. They issued an “outperform” rating and a $82.00 price objective on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $79.00 price objective on shares of Fortive in a report on Thursday, January 4th. Zacks Investment Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. UBS Group started coverage on shares of Fortive in a report on Monday, January 22nd. They issued a “buy” rating on the stock. Finally, SunTrust Banks reiterated a “buy” rating and issued a $81.00 price objective on shares of Fortive in a report on Friday, October 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Fortive presently has an average rating of “Buy” and a consensus target price of $75.50.
Fortive (NYSE:FTV) last issued its earnings results on Thursday, February 8th. The technology company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.77 billion. Fortive had a net margin of 15.69% and a return on equity of 30.54%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. analysts anticipate that Fortive Corp will post 3.42 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 23rd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. Fortive’s payout ratio is 9.46%.
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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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