Profund Advisors LLC boosted its position in shares of Fortive Corp (NYSE:FTV) by 28.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,556 shares of the technology company’s stock after buying an additional 2,325 shares during the period. Profund Advisors LLC’s holdings in Fortive were worth $764,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in FTV. Calton & Associates Inc. bought a new position in Fortive during the fourth quarter valued at approximately $107,000. Steward Partners Investment Advisory LLC bought a new position in Fortive during the third quarter valued at approximately $135,000. Willingdon Wealth Management bought a new position in Fortive during the third quarter valued at approximately $143,000. Tower Research Capital LLC TRC bought a new position in Fortive during the fourth quarter valued at approximately $184,000. Finally, Private Advisor Group LLC purchased a new stake in Fortive during the third quarter valued at approximately $200,000. 81.23% of the stock is owned by institutional investors.
Shares of Fortive Corp (FTV) opened at $78.23 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.47 and a current ratio of 1.83. Fortive Corp has a 52-week low of $58.15 and a 52-week high of $80.31. The stock has a market capitalization of $27,181.27, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 2.37 and a beta of 0.42.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be issued a $0.07 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.36%. Fortive’s payout ratio is 9.46%.
A number of brokerages have issued reports on FTV. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a research report on Friday, March 9th. Barclays began coverage on Fortive in a research report on Thursday, February 15th. They set an “overweight” rating and a $86.00 price objective on the stock. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Wednesday, February 14th. BMO Capital Markets decreased their price objective on Fortive from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. Finally, Royal Bank of Canada restated a “hold” rating on shares of Fortive in a research report on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $77.50.
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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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