Fortive Co. (NYSE:FTV) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in Fortive Co. (NYSE:FTV) by 129.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 73,633 shares of the technology company’s stock after purchasing an additional 41,506 shares during the period. Van ECK Associates Corp’s holdings in Fortive were worth $5,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Fortive in the third quarter worth $25,000. Versant Capital Management Inc lifted its stake in Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after acquiring an additional 297 shares in the last quarter. Crews Bank & Trust purchased a new stake in Fortive in the 4th quarter worth about $37,000. Albion Financial Group UT purchased a new stake in Fortive in the 4th quarter worth about $38,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Fortive in the 3rd quarter worth about $41,000. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FTV. JPMorgan Chase & Co. reduced their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada raised their target price on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. Truist Financial raised their target price on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. UBS Group began coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price on the stock. Finally, Argus reaffirmed a “hold” rating on shares of Fortive in a report on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.64.

Fortive Stock Up 1.4 %

Shares of Fortive stock opened at $81.75 on Wednesday. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The business has a 50-day moving average of $77.87 and a two-hundred day moving average of $75.80. The company has a market capitalization of $28.36 billion, a P/E ratio of 32.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same period in the prior year, the company earned $0.98 earnings per share. As a group, equities analysts predict that Fortive Co. will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.39%. Fortive’s payout ratio is 12.75%.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.