Suntrust Banks Inc. Reduces Holdings in Fortive Corp (FTV)

Suntrust Banks Inc. reduced its position in Fortive Corp (NYSE:FTV) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,642 shares of the technology company’s stock after selling 4,794 shares during the period. Suntrust Banks Inc.’s holdings in Fortive were worth $6,846,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FTV. Sumitomo Mitsui Asset Management Company LTD increased its position in Fortive by 1,737.6% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 455,129 shares of the technology company’s stock worth $32,218,000 after purchasing an additional 430,362 shares during the last quarter. Janus Henderson Group PLC increased its position in Fortive by 106.3% in the 3rd quarter. Janus Henderson Group PLC now owns 821,560 shares of the technology company’s stock worth $58,157,000 after purchasing an additional 423,247 shares during the last quarter. Schroder Investment Management Group increased its position in Fortive by 39.4% in the 4th quarter. Schroder Investment Management Group now owns 1,364,280 shares of the technology company’s stock worth $98,706,000 after purchasing an additional 385,630 shares during the last quarter. BlackRock Inc. increased its position in Fortive by 1.7% in the 4th quarter. BlackRock Inc. now owns 20,013,760 shares of the technology company’s stock worth $1,447,996,000 after purchasing an additional 336,327 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Fortive by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,221,540 shares of the technology company’s stock worth $155,332,000 after purchasing an additional 273,003 shares during the last quarter. 78.31% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on FTV. Barclays began coverage on Fortive in a research report on Thursday, February 15th. They issued an “overweight” rating and a $86.00 target price on the stock. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Wednesday, February 14th. JPMorgan Chase & Co. increased their price objective on Fortive from $82.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, February 12th. BMO Capital Markets lowered their price objective on Fortive from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Fortive in a report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.50.

Fortive Corp (FTV) opened at $77.14 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.47 and a current ratio of 1.83. The company has a market capitalization of $26,810.00 and a PE ratio of 27.95. Fortive Corp has a fifty-two week low of $56.73 and a fifty-two week high of $77.23.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.77 billion. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. analysts expect that Fortive Corp will post 3.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Thursday, February 22nd. Fortive’s dividend payout ratio is 10.14%.

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About Fortive

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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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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