Enterprise Bank & Trust Co trimmed its position in Fortive Corp (NYSE:FTV) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,958 shares of the technology company’s stock after selling 1,018 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Fortive were worth $1,678,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Atria Investments LLC increased its holdings in shares of Fortive by 7.8% in the second quarter. Atria Investments LLC now owns 12,974 shares of the technology company’s stock worth $896,000 after purchasing an additional 944 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Fortive by 43.1% during the second quarter. Meadow Creek Investment Management LLC now owns 356,950 shares of the technology company’s stock valued at $29,099,000 after buying an additional 107,536 shares during the period. Parallel Advisors LLC boosted its position in shares of Fortive by 10.5% during the third quarter. Parallel Advisors LLC now owns 3,324 shares of the technology company’s stock valued at $228,000 after buying an additional 315 shares during the period. National Pension Service boosted its position in shares of Fortive by 4.7% during the third quarter. National Pension Service now owns 443,803 shares of the technology company’s stock valued at $30,427,000 after buying an additional 19,929 shares during the period. Finally, Bartlett & Co. LLC purchased a new position in shares of Fortive during the third quarter valued at approximately $177,000. 82.48% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on FTV. Berenberg Bank set a $86.00 target price on Fortive and gave the company a “buy” rating in a research report on Wednesday, September 18th. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Friday. Royal Bank of Canada reiterated a “hold” rating and issued a $79.00 price target on shares of Fortive in a report on Wednesday, December 18th. Morgan Stanley upgraded Fortive from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $91.00 in a report on Wednesday, December 11th. Finally, Rosenblatt Securities reiterated a “hold” rating and issued a $77.00 price target on shares of Fortive in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Fortive presently has an average rating of “Hold” and a consensus target price of $81.85.
Shares of NYSE FTV traded up $0.25 during trading hours on Tuesday, reaching $77.08. The stock had a trading volume of 1,677,198 shares, compared to its average volume of 1,575,224. The company has a current ratio of 1.19, a quick ratio of 0.96 and a debt-to-equity ratio of 0.72. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 3.63 and a beta of 1.22. The business’s fifty day moving average price is $74.32 and its two-hundred day moving average price is $73.04. Fortive Corp has a 52-week low of $63.51 and a 52-week high of $89.48.
Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 24th. The technology company reported $0.87 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.87. The firm had revenue of $1.86 billion during 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%. Fortive’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. Equities research analysts anticipate that Fortive Corp will post 3.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.28 dividend on an annualized basis and a yield of 0.36%. Fortive’s dividend payout ratio is currently 9.15%.
In other news, SVP Martin Gafinowitz sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $71.27, for a total transaction of $2,138,100.00. Following the transaction, the senior vice president now directly owns 101,169 shares of the company’s stock, valued at $7,210,314.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.70% of the stock is owned by corporate 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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