Barings LLC Buys 85,200 Shares of Fortive Corp (FTV)
Barings LLC grew its holdings in shares of Fortive Corp (NYSE:FTV) by 134.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,574 shares of the technology company’s stock after purchasing an additional 85,200 shares during the period. Barings LLC’s holdings in Fortive were worth $10,749,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sei Investments Co. increased its position in Fortive by 11.5% during the 4th quarter. Sei Investments Co. now owns 293,681 shares of the technology company’s stock worth $21,249,000 after purchasing an additional 30,187 shares during the period. New Mexico Educational Retirement Board increased its position in Fortive by 4.6% during the 4th quarter. New Mexico Educational Retirement Board now owns 29,292 shares of the technology company’s stock worth $2,119,000 after purchasing an additional 1,300 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in Fortive during the 4th quarter worth approximately $2,363,000. Candriam Luxembourg S.C.A. increased its position in Fortive by 15.3% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 39,241 shares of the technology company’s stock worth $2,839,000 after purchasing an additional 5,199 shares during the period. Finally, Evermay Wealth Management LLC acquired a new position in Fortive during the 4th quarter worth approximately $396,000. Institutional investors own 78.59% of the company’s stock.
Several equities analysts have issued reports on FTV shares. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Wednesday, January 3rd. Royal Bank of Canada reiterated a “hold” rating and set a $79.00 target price on shares of Fortive in a research report on Thursday, January 4th. SunTrust Banks reiterated a “buy” rating and set a $81.00 target price on shares of Fortive in a research report on Friday, October 27th. Citigroup boosted their target price on Fortive from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, Argus upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $75.50.
Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $1.81 billion for 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 company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. analysts expect that Fortive Corp will post 3.4 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 23rd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortive’s dividend payout ratio is currently 9.46%.
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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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