Ellington Management Group LLC grew its stake in Fortive (NYSE:FTV) by 64.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,400 shares of the technology company’s stock after acquiring an additional 2,500 shares during the period. Ellington Management Group LLC’s holdings in Fortive were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Calton & Associates Inc. acquired a new position in Fortive during the fourth quarter valued at approximately $107,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Fortive in the third quarter worth $135,000. Willingdon Wealth Management bought a new stake in shares of Fortive in the third quarter worth $143,000. Tower Research Capital LLC TRC bought a new stake in shares of Fortive in the fourth quarter worth $184,000. Finally, Private Advisor Group LLC bought a new stake in shares of Fortive in the third quarter worth $200,000. 81.29% of the stock is owned by institutional investors.
Shares of NYSE:FTV opened at $74.72 on Friday. The firm has a market cap of $26,669.66, a price-to-earnings ratio of 25.85, a P/E/G ratio of 2.33 and a beta of 0.41. Fortive has a 1-year low of $59.88 and a 1-year high of $80.31. 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 (NYSE:FTV) last released its earnings results on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, topping 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 company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the business posted $0.68 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. sell-side analysts forecast that Fortive will post 3.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Thursday, February 22nd. Fortive’s payout ratio is 9.69%.
Several research firms have issued reports on FTV. JPMorgan Chase lowered shares of Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price target on the stock. in a research report on Friday, March 9th. Zacks Investment Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, January 29th. ValuEngine upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. BMO Capital Markets reiterated a “buy” rating and set a $88.00 price objective on shares of Fortive in a research note on Friday, January 26th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $79.00 target price on shares of Fortive in a report on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $77.50.
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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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