Fulton Breakefield Broenniman LLC raised its position in Fortive Corp (NYSE:FTV) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 155,927 shares of the technology company’s stock after buying an additional 1,339 shares during the quarter. Fortive comprises about 1.4% of Fulton Breakefield Broenniman LLC’s portfolio, making the stock its 28th largest position. Fulton Breakefield Broenniman LLC’s holdings in Fortive were worth $11,911,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA acquired a new position in Fortive during the second quarter valued at approximately $41,000. Kings Point Capital Management acquired a new stake in shares of Fortive in the 2nd quarter valued at approximately $41,000. CSat Investment Advisory L.P. grew its holdings in shares of Fortive by 342.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 673 shares of the technology company’s stock valued at $55,000 after purchasing an additional 521 shares during the last quarter. Bartlett & Co. LLC bought a new stake in shares of Fortive during the 3rd quarter valued at approximately $177,000. Finally, ETF Managers Group LLC increased its position in Fortive by 20.7% during the 2nd quarter. ETF Managers Group LLC now owns 2,231 shares of the technology company’s stock worth $179,000 after purchasing an additional 382 shares in the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Friday, January 3rd. Credit Suisse Group raised Fortive from a “neutral” rating to an “outperform” rating and set a $82.00 price objective on the stock in a report on Monday, December 9th. Argus lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Citigroup raised Fortive from a “neutral” rating to a “buy” rating and upped their target price for the stock from $76.00 to $84.00 in a report on Monday, December 9th. Finally, Rosenblatt Securities reiterated a “hold” rating and issued a $77.00 target price on shares of Fortive in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $81.85.
FTV traded down $0.46 during midday trading on Tuesday, hitting $78.34. 1,867,806 shares of the company were exchanged, compared to its average volume of 1,974,532. The firm has a market capitalization of $26.19 billion, a P/E ratio of 25.60, a P/E/G ratio of 3.67 and a beta of 1.22. Fortive Corp has a 1-year low of $63.51 and a 1-year high of $89.48. The firm’s 50 day moving average price is $75.28 and its 200-day moving average price is $72.96. The company has a quick ratio of 0.96, a current ratio of 1.19 and a debt-to-equity ratio of 0.72.
Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, October 24th. The technology company reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortive had a return on equity of 17.41% and a net margin of 37.57%. The business’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 EPS. On average, sell-side analysts predict that Fortive Corp will post 3.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Wednesday, November 27th. Fortive’s dividend payout ratio is currently 9.15%.
In related news, SVP Martin Gafinowitz sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $71.27, for a total value of $2,138,100.00. Following the sale, the senior vice president now directly owns 101,169 shares in the company, valued at $7,210,314.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.70% of the stock is owned by insiders.
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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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