CIBC World Markets Inc. grew its stake in shares of Fortive Co. (NYSE: FTV – Get Rating) by 156.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,927 shares of the technology company stock after acquiring an additional 11,535 shares during the quarter. CIBC World Markets Inc.’s holdings in Fortive were worth $ 1,444,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. BerganKDV Wealth Management LLC increased its holdings in Fortive by 11.3% in the 4th quarter. BerganKDV Wealth Management LLC now owns 1,481 shares of the technology company stock worth $ 113,000 after buying an additional 150 shares in the last quarter. Regentatlantic Capital LLC increased its holdings in Fortive by 6.1% in the 4th quarter. Regentatlantic Capital LLC now owns 3,264 shares of the technology company stock worth $ 249,000 after buying an additional 187 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Fortive by 0.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the technology company stock worth $ 1,717,000 after buying an additional 200 shares in the last quarter. Profund Advisors LLC increased its holdings in Fortive by 4.9% in the 3rd quarter. Profund Advisors LLC now owns 4,856 shares of the technology company stock worth $ 343,000 after buying an additional 226 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in Fortive by 0.8% in the 4th quarter. Bessemer Group Inc. now owns 28,550 shares of the technology company stock worth $ 2,178,000 after buying an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company stock.
FTV stock opened at $ 59.16 on Friday. Fortive Co. has a twelve month low of $ 56.06 and a twelve month high of $ 79.87. The company has a quick ratio of 0.74, a current ratio of 0.96 and a debt-to-equity ratio of 0.29. The stock has a market cap of $ 21.21 billion, a P / E ratio of 32.87, a PEG ratio of 1.92 and a beta of 1.10. The business’s 50-day moving average price is $ 59.64 and its 200-day moving average price is $ 65.23.
Fortive (NYSE: FTV – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The technology company reported $ 0.70 EPS for the quarter, topping analysts’ consensus estimates of $ 0.68 by $ 0.02. Fortive had a return on equity of 10.87% and a net margin of 12.32%. The company had revenue of $ 1.38 billion for the quarter, compared to analysts’ expectations of $ 1.35 billion. During the same period in the previous year, the firm earned $ 0.63 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts expect that Fortive Co. will post 3.06 earnings per share for the current fiscal year.
Fortive announced that its board has initiated a share buyback program on Thursday, February 17th that permits the company to repurchase 20,000,000 outstanding shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, May 27th will be issued a $ 0.07 dividend. The ex-dividend date is Thursday, May 26th. This represents a $ 0.28 dividend on an annualized basis and a yield of 0.47%. Fortive’s dividend payout ratio is presently 15.56%.
In other Fortive news, Director Alan G. Spoon purchased 17,400 shares of the stock in a transaction that occurred on Monday, May 2nd. The shares were bought at an average cost of $ 58.25 per share, with a total value of $ 1,013,550.00. Following the acquisition, the director now owns 98,861 shares in the company, valued at $ 5,758,653.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is currently owned by insiders.
Several equities research analysts recently commented on the company. Morgan Stanley reduced their price objective on Fortive from $ 67.00 to $ 64.00 and set an “equal weight” rating for the company in a report on Tuesday, May 31st. StockNews.com assumed coverage on Fortive in a research note on Thursday, March 31st. They set a “hold” rating for the company. Cowen cut their price target on Fortive from $ 80.00 to $ 70.00 in a research note on Thursday, June 2nd. Barclays upgraded Fortive from an “equal weight” rating to an “overweight” rating and set a $ 75.00 price target for the company in a research note on Monday, March 14th. Finally, Argus upgraded Fortive from a “hold” rating to a “buy” rating and set a $ 68.00 price target for the company in a research note on Thursday, March 17th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $ 79.27.
Fortive Profile: (Get Rating)
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.
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