Security National Bank of Sioux City Iowa IA lowered its position in shares of Fortive Co. (NYSE:FTV) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,738 shares of the technology company’s stock after selling 246 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in Fortive were worth $900,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of FTV. O Brien Greene & Co. Inc increased its stake in shares of Fortive by 16.5% during the 1st quarter. O Brien Greene & Co. Inc now owns 51,927 shares of the technology company’s stock worth $3,668,000 after purchasing an additional 7,338 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Fortive by 1,882.5% during the 1st quarter. Panagora Asset Management Inc. now owns 192,417 shares of the technology company’s stock worth $13,592,000 after purchasing an additional 182,711 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in Fortive in the 1st quarter valued at approximately $42,000. Norinchukin Bank The grew its stake in Fortive by 1.7% in the 1st quarter. Norinchukin Bank The now owns 28,070 shares of the technology company’s stock valued at $1,983,000 after buying an additional 473 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Fortive by 9.3% in the 1st quarter. Sei Investments Co. now owns 2,280,437 shares of the technology company’s stock valued at $161,088,000 after buying an additional 194,474 shares in the last quarter. 91.42% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on FTV shares. Credit Suisse Group reduced their price objective on shares of Fortive from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, May 20th. Morgan Stanley boosted their price target on shares of Fortive from $76.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, April 30th. Royal Bank of Canada reduced their price target on shares of Fortive from $79.00 to $75.00 and set a “sector perform” rating for the company in a research report on Thursday, May 20th. Zacks Investment Research downgraded shares of Fortive from a “buy” rating to a “hold” rating and set a $76.00 price objective for the company. in a report on Wednesday, April 21st. Finally, Rosenblatt Securities lifted their price objective on shares of Fortive from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday, May 4th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Fortive presently has an average rating of “Buy” and an average price target of $79.77.
Shares of NYSE FTV traded up $0.29 during midday trading on Friday, hitting $70.76. 28,914 shares of the company traded hands, compared to its average volume of 2,293,197. Fortive Co. has a 12-month low of $60.82 and a 12-month high of $82.12. The company has a current ratio of 1.13, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $71.95. The company has a market capitalization of $23.95 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 4.81 and a beta of 1.13.
Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. Fortive had a net margin of 27.76% and a return on equity of 12.85%. During the same quarter in the previous year, the company earned $0.74 EPS. Sell-side analysts predict that Fortive Co. will post 2.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 25th. Shareholders of record on Friday, May 28th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Thursday, May 27th. Fortive’s dividend payout ratio (DPR) is presently 13.40%.
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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