Two Sigma Securities LLC purchased a new stake in shares of Fortive (NYSE:FTV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,345 shares of the technology company’s stock, valued at approximately $387,000.
Several other hedge funds have also added to or reduced their stakes in the company. Ellington Management Group LLC raised its stake in shares of Fortive by 64.1% during the fourth quarter. Ellington Management Group LLC now owns 6,400 shares of the technology company’s stock valued at $463,000 after acquiring an additional 2,500 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Fortive by 3.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,958,371 shares of the technology company’s stock valued at $214,038,000 after acquiring an additional 94,283 shares during the last quarter. HPM Partners LLC increased its position in shares of Fortive by 12.2% during the fourth quarter. HPM Partners LLC now owns 67,232 shares of the technology company’s stock worth $4,864,000 after buying an additional 7,305 shares during the period. Stone Ridge Asset Management LLC acquired a new stake in shares of Fortive during the fourth quarter worth $1,539,000. Finally, Guggenheim Capital LLC increased its position in shares of Fortive by 4.8% during the fourth quarter. Guggenheim Capital LLC now owns 698,950 shares of the technology company’s stock worth $50,570,000 after buying an additional 31,851 shares during the period. 81.29% of the stock is owned by hedge funds and other institutional investors.
NYSE:FTV opened at $74.72 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.83 and a debt-to-equity ratio of 1.07. The firm has a market capitalization 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 12 month low of $59.88 and a 12 month high of $80.31.
Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Fortive had a net margin of 15.69% and a return on equity of 30.54%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $0.68 earnings per share. research analysts anticipate that Fortive will post 3.42 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Friday, February 23rd were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Thursday, February 22nd. Fortive’s payout ratio is 9.69%.
Several equities research analysts have recently weighed in on the stock. JPMorgan Chase cut shares of Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research report on Friday, March 9th. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. ValuEngine upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report 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 report on Friday, January 26th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $79.00 price objective on shares of Fortive in a research report on Thursday, January 4th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Fortive presently has a consensus rating of “Buy” and a consensus 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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