Driehaus Capital Management LLC trimmed its position in shares of Fortive Corp (NYSE:FTV) by 26.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,589 shares of the technology company’s stock after selling 2,317 shares during the quarter. Driehaus Capital Management LLC’s holdings in Fortive were worth $477,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Calton & Associates Inc. bought a new stake in Fortive during the fourth quarter worth $107,000. Steward Partners Investment Advisory LLC bought a new stake in Fortive during the third quarter worth $135,000. Willingdon Wealth Management bought a new stake in Fortive during the third quarter worth $143,000. Tower Research Capital LLC TRC bought a new stake in Fortive during the fourth quarter worth $184,000. Finally, Private Advisor Group LLC bought a new stake in Fortive during the third quarter worth $200,000. 81.27% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on FTV shares. ValuEngine downgraded Fortive from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Argus upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research downgraded Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Royal Bank of Canada reiterated a “hold” rating and set a $79.00 price target on shares of Fortive in a report on Thursday, January 4th. Finally, UBS started coverage on Fortive in a report on Monday, January 22nd. They set a “buy” rating for the company. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Fortive has a consensus rating of “Hold” and an average price target of $77.50.
Fortive Corp (NYSE FTV) opened at $76.69 on Friday. The stock has a market capitalization of $27,268.28, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 2.38 and a beta of 0.42. 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 Corp has a 12 month low of $58.15 and a 12 month high of $80.31.
Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. equities research analysts expect that Fortive Corp will post 3.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders 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 yield of 0.37%. Fortive’s dividend payout ratio (DPR) is presently 9.46%.
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Fortive Company Profile
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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