Fortive Corp (FTV) Holdings Cut by DE Burlo Group Inc.
DE Burlo Group Inc. cut its holdings in Fortive Corp (NYSE:FTV) by 36.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,400 shares of the technology company’s stock after selling 66,600 shares during the quarter. Fortive accounts for 1.7% of DE Burlo Group Inc.’s investment portfolio, making the stock its 23rd largest holding. DE Burlo Group Inc.’s holdings in Fortive were worth $8,349,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. First Trust Advisors LP lifted its stake in Fortive by 51.9% in the fourth quarter. First Trust Advisors LP now owns 654,110 shares of the technology company’s stock valued at $47,325,000 after buying an additional 223,465 shares during the period. Barings LLC lifted its stake in Fortive by 134.4% in the fourth quarter. Barings LLC now owns 148,574 shares of the technology company’s stock valued at $10,749,000 after buying an additional 85,200 shares during the period. Sei Investments Co. raised its position in shares of Fortive by 11.5% during the fourth 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 raised its position in shares of Fortive by 4.6% during the fourth 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. Finally, Old Mutual Global Investors UK Ltd. acquired a new position in shares of Fortive during the fourth quarter worth approximately $2,363,000. 78.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on FTV. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Thursday, January 11th. Citigroup upped their target price on Fortive from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. upped their target price on Fortive from $82.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday. Stifel Nicolaus upped their target price on Fortive from $62.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, Argus raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $75.50.
Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $1.81 billion during 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%. Fortive’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. equities analysts anticipate that Fortive Corp will post 3.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 23rd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Thursday, February 22nd. Fortive’s payout ratio is currently 9.46%.
Fortive Company Profile
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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