Atlantic Trust Group LLC trimmed its holdings in shares of Fortive Corp (NYSE:FTV) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,375,277 shares of the technology company’s stock after selling 9,218 shares during the period. Atlantic Trust Group LLC owned approximately 0.39% of Fortive worth $106,612,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of FTV. Victory Capital Management Inc. boosted its holdings in shares of Fortive by 10.9% during the 4th quarter. Victory Capital Management Inc. now owns 51,789 shares of the technology company’s stock worth $3,747,000 after buying an additional 5,083 shares in the last quarter. Sigma Planning Corp bought a new position in shares of Fortive during the 4th quarter worth approximately $219,000. Candriam Luxembourg S.C.A. boosted its holdings in shares of Fortive by 15.3% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 39,241 shares of the technology company’s stock worth $2,839,000 after buying an additional 5,199 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Fortive by 11.5% during the 4th quarter. Sei Investments Co. now owns 293,681 shares of the technology company’s stock worth $21,249,000 after buying an additional 30,187 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Fortive by 51.9% during the 4th quarter. First Trust Advisors LP now owns 654,110 shares of the technology company’s stock worth $47,325,000 after buying an additional 223,465 shares in the last quarter. Hedge funds and other institutional investors own 79.60% of the company’s stock.
A number of research firms have issued reports on FTV. JPMorgan Chase & Co. cut Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price target on the stock. in a report on Friday, March 9th. TheStreet upgraded Fortive from a “c” rating to a “b-” rating in a report on Monday, June 11th. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, June 12th. Finally, ValuEngine upgraded Fortive from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $80.89.
Shares of Fortive opened at $81.07 on Monday, according to MarketBeat. Fortive Corp has a 12-month low of $62.05 and a 12-month high of $81.51. The company has a current ratio of 2.11, a quick ratio of 1.69 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $28.26 billion, a P/E ratio of 28.05, a PEG ratio of 2.20 and a beta of 0.52.
Fortive (NYSE:FTV) last issued its earnings results on Thursday, April 26th. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. Fortive had a return on equity of 29.86% and a net margin of 16.12%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned $0.60 EPS. Fortive’s quarterly revenue was up 13.4% compared to the same quarter last year. sell-side analysts forecast that Fortive Corp will post 3.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, May 25th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Thursday, May 24th. Fortive’s dividend payout ratio is currently 9.69%.
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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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