Cerebellum GP LLC boosted its stake in shares of Fortive Corp (NYSE:FTV) by 14.9% in the fourth quarter, Holdings Channel reports. The firm owned 7,393 shares of the technology company’s stock after acquiring an additional 961 shares during the period. Cerebellum GP LLC’s holdings in Fortive were worth $565,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the business. Capital City Trust Co. FL boosted its position in Fortive by 2.5% during the fourth quarter. Capital City Trust Co. FL now owns 5,759 shares of the technology company’s stock worth $440,000 after purchasing an additional 142 shares during the period. LPL Financial LLC boosted its position in Fortive by 2.0% during the second quarter. LPL Financial LLC now owns 7,831 shares of the technology company’s stock worth $638,000 after purchasing an additional 153 shares during the period. O Brien Greene & Co. Inc boosted its position in Fortive by 0.5% during the second quarter. O Brien Greene & Co. Inc now owns 36,185 shares of the technology company’s stock worth $2,949,000 after purchasing an additional 175 shares during the period. Hartford Financial Management Inc. boosted its position in Fortive by 0.9% during the third quarter. Hartford Financial Management Inc. now owns 23,496 shares of the technology company’s stock worth $1,611,000 after purchasing an additional 209 shares during the period. Finally, Condor Capital Management boosted its position in Fortive by 1.2% during the third quarter. Condor Capital Management now owns 17,926 shares of the technology company’s stock worth $1,229,000 after purchasing an additional 215 shares during the period. 82.46% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on FTV. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Friday, January 3rd. Morgan Stanley raised Fortive from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $91.00 in a research report on Wednesday, December 11th. Wolfe Research raised Fortive from a “peer perform” rating to an “outperform” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. began coverage on Fortive in a research report on Friday, November 15th. They issued a “neutral” rating and a $72.00 price objective for the company. Finally, Argus cut Fortive from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $81.85.
FTV opened at $78.00 on Thursday. Fortive Corp has a 1-year low of $63.51 and a 1-year high of $89.48. The company has a current ratio of 1.19, a quick ratio of 0.96 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $26.31 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 3.69 and a beta of 1.22. The business has a 50 day moving average of $75.55 and a 200-day moving average of $72.95.
Fortive (NYSE:FTV) last issued its earnings results on Thursday, October 24th. The technology company reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortive had a return on equity of 17.41% and a net margin of 37.57%. Fortive’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the business earned $0.86 earnings per share. Equities analysts predict that Fortive Corp will post 3.44 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.28 annualized dividend and a yield of 0.36%. Fortive’s dividend payout ratio (DPR) is currently 9.15%.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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