Eaton Vance Management reduced its stake in shares of Fortive Corp (NYSE:FTV) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,921,299 shares of the technology company’s stock after selling 268,327 shares during the quarter. Eaton Vance Management’s holdings in Fortive were worth $139,006,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. APG Asset Management N.V. raised its stake in Fortive by 49.7% during the third 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 in the last quarter. JPMorgan Chase & Co. raised its stake in Fortive by 14.0% during the third 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 in the last quarter. Westpac Banking Corp raised its stake in Fortive by 321.1% during the fourth 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 in the last quarter. Stephens Inc. AR acquired a new position in Fortive during the third quarter worth $357,000. Finally, Parametric Portfolio Associates LLC raised its stake in Fortive by 5.4% during the third quarter. Parametric Portfolio Associates LLC now owns 914,624 shares of the technology company’s stock worth $64,746,000 after acquiring an additional 46,478 shares in the last quarter. Hedge funds and other institutional investors own 78.31% of the company’s stock.
Several research analysts have issued reports on FTV shares. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Wednesday, January 3rd. Royal Bank of Canada reiterated a “hold” rating and set a $79.00 price objective on shares of Fortive in a research note on Thursday, January 4th. SunTrust Banks restated a “buy” rating and issued a $81.00 target price on shares of Fortive in a research note on Friday, October 27th. Citigroup raised their target price on Fortive from $72.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Finally, Argus upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Fortive currently has an average rating of “Buy” and a consensus price target of $77.50.
Shares of Fortive Corp (NYSE:FTV) opened at $76.01 on Thursday. Fortive Corp has a 12 month low of $56.73 and a 12 month high of $77.22. The firm has a market capitalization of $26,380.63, a price-to-earnings ratio of 26.16, a PEG ratio of 2.29 and a beta of 0.51. The company has a quick ratio of 1.47, a current ratio of 1.83 and a debt-to-equity ratio of 1.07.
Fortive (NYSE:FTV) last announced its earnings results on Thursday, February 8th. The technology company reported $0.82 earnings per share 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 company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. sell-side analysts predict that Fortive Corp will post 3.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be paid a $0.07 dividend. 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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