Stone Ridge Asset Management LLC Takes Position in Fortive (NYSE:FTV)

Stone Ridge Asset Management LLC acquired a new stake in shares of Fortive (NYSE:FTV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,270 shares of the technology company’s stock, valued at approximately $1,539,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Fortive by 1.7% during the fourth quarter. BlackRock Inc. now owns 20,013,760 shares of the technology company’s stock valued at $1,447,996,000 after acquiring an additional 336,327 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Fortive by 2.7% during the fourth quarter. Brown Advisory Inc. now owns 6,447,021 shares of the technology company’s stock valued at $466,443,000 after acquiring an additional 168,219 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Fortive by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,887,383 shares of the technology company’s stock valued at $281,251,000 after acquiring an additional 101,819 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Fortive by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 3,852,139 shares of the technology company’s stock valued at $278,702,000 after acquiring an additional 14,898 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Fortive by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 3,451,046 shares of the technology company’s stock valued at $249,190,000 after acquiring an additional 69,989 shares during the period. 81.29% of the stock is owned by institutional investors.

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A number of research analysts have issued reports on the company. ValuEngine raised Fortive from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. JPMorgan Chase cut Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price objective for the company. in a report on Friday, March 9th. Barclays assumed coverage on Fortive in a report on Thursday, February 15th. They set an “overweight” rating and a $86.00 price objective for the company. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Wednesday, February 14th. Finally, BMO Capital Markets cut their price objective on Fortive from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $77.50.

Fortive stock opened at $74.72 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.83 and a quick ratio of 1.47. Fortive has a 12-month low of $59.88 and a 12-month high of $80.31. The stock has a market capitalization of $26,669.66, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 2.33 and a beta of 0.41.

Fortive (NYSE:FTV) last released 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. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. sell-side analysts predict that Fortive will post 3.42 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.28 annualized dividend and a yield of 0.37%. Fortive’s dividend payout ratio is currently 9.69%.

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Fortive Profile

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.

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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