Precision Path Capital LP acquired a new position in shares of Fortive Corp (NYSE:FTV) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 25,000 shares of the technology company’s stock, valued at approximately $1,809,000. Fortive comprises about 1.4% of Precision Path Capital LP’s investment portfolio, making the stock its 20th largest position.
Several other large investors have also recently modified their holdings of the company. Calton & Associates Inc. purchased a new stake in Fortive during the fourth quarter worth approximately $107,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Fortive during the third quarter worth $135,000. Willingdon Wealth Management acquired a new position in shares of Fortive during the third quarter worth $143,000. Tower Research Capital LLC TRC acquired a new position in shares of Fortive during the fourth quarter worth $184,000. Finally, Private Advisor Group LLC acquired a new position in shares of Fortive during the third quarter worth $200,000. 81.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fortive Corp (NYSE:FTV) traded down $0.38 during midday trading on Wednesday, hitting $77.61. The company’s stock had a trading volume of 1,180,160 shares, compared to its average volume of 1,717,855. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.47 and a current ratio of 1.83. Fortive Corp has a 12 month low of $58.15 and a 12 month high of $80.31. The company has a market capitalization of $26,970.00 and a PE ratio of 28.12.
Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 earnings per share. equities analysts forecast that Fortive Corp will post 3.42 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.36%. Fortive’s payout ratio is currently 10.14%.
FTV has been the topic of several recent analyst reports. BMO Capital Markets initiated coverage on shares of Fortive in a report on Wednesday, November 15th. They issued an “outperform” rating and a $82.00 price target on the stock. Royal Bank of Canada reissued a “hold” rating and set a $79.00 target price on shares of Fortive in a report on Thursday, January 4th. Barclays began coverage on shares of Fortive in a research report on Thursday, February 15th. They set an “overweight” rating and a $86.00 price target for the company. UBS Group started coverage on shares of Fortive in a research report on Monday, January 22nd. They issued a “buy” rating for the company. Finally, Zacks Investment Research lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Fortive has an average rating of “Hold” and a consensus price target of $77.50.
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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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