Synovus Financial Corp lifted its position in shares of Fortive Corp (NYSE:FTV) by 4.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 30,146 shares of the technology company’s stock after acquiring an additional 1,282 shares during the quarter. Synovus Financial Corp’s holdings in Fortive were worth $2,172,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. APG Asset Management N.V. grew its stake in shares of Fortive by 49.7% during the 3rd quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock worth $154,483,000 after acquiring an additional 724,400 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Fortive by 14.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,221,540 shares of the technology company’s stock worth $155,332,000 after acquiring an additional 273,003 shares during the period. Westpac Banking Corp grew its stake in shares of Fortive by 321.1% during the 4th quarter. Westpac Banking Corp now owns 84,842 shares of the technology company’s stock worth $6,138,000 after acquiring an additional 64,693 shares during the period. Stephens Inc. AR bought a new position in Fortive in the 3rd quarter worth about $357,000. Finally, Parametric Portfolio Associates LLC boosted its stake in Fortive by 5.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 914,624 shares of the technology company’s stock worth $64,746,000 after purchasing an additional 46,478 shares during the period. Institutional investors own 78.31% of the company’s stock.
Several research analysts have commented on the company. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Thursday, January 11th. Citigroup raised their target price on Fortive from $76.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. raised their target price on Fortive from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Argus upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, ValuEngine downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Fortive currently has an average rating of “Buy” and an average target price of $77.50.
Shares of Fortive Corp (NYSE:FTV) opened at $75.85 on Wednesday. The stock has a market capitalization of $26,311.07, a PE ratio of 25.63, a PEG ratio of 2.28 and a beta of 0.51. The company has a current ratio of 1.83, a quick ratio of 1.47 and a debt-to-equity ratio of 1.07. Fortive Corp has a 12-month low of $56.73 and a 12-month high of $76.68.
Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. sell-side analysts forecast that Fortive Corp will post 3.42 earnings per share for the current year.
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 given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. Fortive’s dividend payout ratio (DPR) is presently 9.46%.
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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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