Woodline Partners LP lifted its holdings in Fortive Co. (NYSE:FTV - Free Report) by 44.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,132,722 shares of the technology company's stock after acquiring an additional 349,763 shares during the period. Fortive accounts for about 0.6% of Woodline Partners LP's portfolio, making the stock its 29th biggest holding. Woodline Partners LP owned approximately 0.33% of Fortive worth $84,954,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Parvin Asset Management LLC bought a new position in shares of Fortive in the fourth quarter worth about $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Fortive in the fourth quarter worth about $31,000. Crews Bank & Trust purchased a new stake in shares of Fortive in the fourth quarter worth about $37,000. Albion Financial Group UT purchased a new stake in shares of Fortive in the fourth quarter worth about $38,000. Finally, Quarry LP lifted its position in shares of Fortive by 229.6% in the fourth quarter. Quarry LP now owns 501 shares of the technology company's stock worth $38,000 after buying an additional 349 shares in the last quarter. Institutional investors own 94.94% of the company's stock.
Fortive Trading Down 0.7%
FTV opened at $72.71 on Tuesday. The stock has a market cap of $24.71 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 2.68 and a beta of 1.10. The stock's 50 day moving average price is $69.74 and its 200-day moving average price is $74.90. Fortive Co. has a one year low of $60.39 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16.
Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, meeting analysts' consensus estimates of $0.85. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The company's quarterly revenue was down 3.3% on a year-over-year basis. On average, equities analysts forecast that Fortive Co. will post 4.05 EPS for the current year.
Fortive Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be paid a $0.08 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.32 annualized dividend and a yield of 0.44%. Fortive's dividend payout ratio (DPR) is currently 14.04%.
Analyst Ratings Changes
A number of equities research analysts recently commented on FTV shares. BNP Paribas downgraded Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 target price on the stock. in a research report on Wednesday, April 9th. Robert W. Baird decreased their target price on Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their target price on Fortive from $73.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday. Citigroup decreased their price objective on Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, StockNews.com downgraded Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $81.92.
Get Our Latest Stock Analysis on FTV
Insider Buying and Selling
In other Fortive news, CEO James A. Lico sold 196,117 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the sale, the chief executive officer now owns 528,851 shares of the company's stock, valued at approximately $42,509,043.38. This trade represents a 27.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christopher M. Mulhall sold 6,493 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total value of $519,115.35. Following the sale, the chief accounting officer now directly owns 24,283 shares in the company, valued at $1,941,425.85. This trade represents a 21.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 432,712 shares of company stock valued at $33,237,008 over the last quarter. 1.01% of the stock is owned by corporate insiders.
Fortive Profile
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Free Report)
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.
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