Fortive Corp (FTV) Position Decreased by Luminus Management LLC

Luminus Management LLC cut its position in Fortive Corp (NYSE:FTV) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,536 shares of the technology company’s stock after selling 5,640 shares during the quarter. Luminus Management LLC’s holdings in Fortive were worth $20,659,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its position in Fortive by 1.7% in the fourth quarter. BlackRock Inc. now owns 20,013,760 shares of the technology company’s stock valued at $1,447,996,000 after purchasing an additional 336,327 shares during the last quarter. Brown Advisory Inc. raised its position in Fortive by 2.7% in the fourth quarter. Brown Advisory Inc. now owns 6,447,021 shares of the technology company’s stock valued at $466,443,000 after purchasing an additional 168,219 shares during the last quarter. Bank of New York Mellon Corp raised its position in Fortive by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,887,383 shares of the technology company’s stock valued at $281,251,000 after purchasing an additional 101,819 shares during the last quarter. Bessemer Group Inc. raised its position in Fortive by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 3,852,139 shares of the technology company’s stock valued at $278,702,000 after purchasing an additional 14,898 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Fortive by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 3,451,046 shares of the technology company’s stock valued at $249,190,000 after purchasing an additional 69,989 shares during the last quarter. Hedge funds and other institutional investors own 81.23% of the company’s stock.

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Fortive Corp (FTV) opened at $78.53 on Tuesday. Fortive Corp has a 1 year low of $58.09 and a 1 year high of $80.31. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.47 and a current ratio of 1.83. The stock has a market capitalization of $27,936.50, a PE ratio of 27.68, a PEG ratio of 2.44 and a beta of 0.42.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $0.68 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. research analysts predict that Fortive Corp will post 3.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, February 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. Fortive’s dividend payout ratio (DPR) is 9.46%.

Several equities analysts have commented on the company. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Thursday, January 11th. Citigroup increased their target price on Fortive from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their target price on Fortive from $82.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Argus upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, ValuEngine downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $77.50.

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Fortive Profile

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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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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