Fortive Corp (FTV) Position Increased by Raymond James & Associates
Raymond James & Associates increased its holdings in shares of Fortive Corp (NYSE:FTV) by 6.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 191,837 shares of the technology company’s stock after purchasing an additional 11,736 shares during the period. Raymond James & Associates’ holdings in Fortive were worth $13,879,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Calton & Associates Inc. bought a new position in Fortive in the fourth quarter valued at about $107,000. Steward Partners Investment Advisory LLC bought a new position in Fortive in the third quarter valued at about $135,000. Tower Research Capital LLC TRC bought a new position in Fortive in the fourth quarter valued at about $184,000. Private Advisor Group LLC bought a new position in Fortive in the third quarter valued at about $200,000. Finally, Buckingham Asset Management LLC bought a new position in Fortive in the fourth quarter valued at about $203,000. Institutional investors and hedge funds own 81.27% of the company’s stock.
Fortive stock opened at $78.35 on Thursday. Fortive Corp has a 1 year low of $58.15 and a 1 year high of $80.31. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.47 and a current ratio of 1.83. The stock has a market capitalization of $27,202.15, a PE ratio of 26.47, a PEG ratio of 2.37 and a beta of 0.42.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. Fortive’s dividend payout ratio (DPR) is 9.46%.
Several research firms have commented on FTV. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 target price for the company. in a research report on Friday, March 9th. Barclays began coverage on Fortive in a research report on Thursday, February 15th. They issued an “overweight” rating and a $86.00 target price for the company. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Wednesday, February 14th. BMO Capital Markets dropped their target price on Fortive from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Fortive in a research report on Friday, February 9th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $77.50.
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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