Sandy Spring Bank increased its position in Fortive Corp (NYSE:FTV) by 19.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,694 shares of the technology company’s stock after buying an additional 10,425 shares during the period. Sandy Spring Bank’s holdings in Fortive were worth $4,942,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. CFM Wealth Partners LLC acquired a new position in Fortive in the fourth quarter worth approximately $33,000. Atlantic Trust LLC bought a new stake in Fortive during the fourth quarter worth approximately $37,000. S.A. Mason LLC bought a new stake in Fortive during the fourth quarter worth approximately $38,000. Sugarloaf Wealth Management LLC bought a new stake in Fortive during the fourth quarter worth approximately $40,000. Finally, Private Ocean LLC bought a new stake in Fortive during the fourth quarter worth approximately $48,000. Hedge funds and other institutional investors own 82.32% of the company’s stock.
Shares of FTV traded up $0.58 during mid-day trading on Friday, hitting $77.82. The company’s stock had a trading volume of 105,963 shares, compared to its average volume of 1,747,420. Fortive Corp has a one year low of $63.51 and a one year high of $89.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 1.06. The firm has a market capitalization of $26.64 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 3.55 and a beta of 1.22. The stock’s 50-day moving average is $77.29 and its two-hundred day moving average is $72.46.
Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. Fortive had a return on equity of 17.53% and a net margin of 10.09%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the prior year, the business earned $0.91 earnings per share. Fortive’s revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts expect that Fortive Corp will post 3.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 28th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. Fortive’s payout ratio is 8.05%.
A number of equities research analysts have issued reports on the company. Credit Suisse Group raised Fortive from a “neutral” rating to an “outperform” rating and set a $82.00 target price for the company in a research report on Monday, December 9th. Argus cut Fortive from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Morgan Stanley raised Fortive from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $91.00 in a research report on Wednesday, December 11th. Citigroup raised Fortive from a “neutral” rating to a “buy” rating and upped their target price for the stock from $76.00 to $84.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. assumed coverage on Fortive in a research report on Friday, November 15th. They set a “neutral” rating and a $72.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $81.85.
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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