Fortive Corp (FTV) Shares Bought by TCI Wealth Advisors Inc.
TCI Wealth Advisors Inc. boosted its position in Fortive Corp (NYSE:FTV) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,010 shares of the technology company’s stock after acquiring an additional 220 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Fortive were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of FTV. Capital Research Global Investors lifted its stake in shares of Fortive by 1,090.6% during the third quarter. Capital Research Global Investors now owns 5,072,880 shares of the technology company’s stock worth $427,136,000 after purchasing an additional 4,646,796 shares in the last quarter. Norges Bank acquired a new position in shares of Fortive during the fourth quarter worth about $246,463,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Fortive by 3,401.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,533,529 shares of the technology company’s stock worth $37,000 after purchasing an additional 2,461,167 shares in the last quarter. Gates Capital Management Inc. acquired a new position in shares of Fortive during the fourth quarter worth about $53,836,000. Finally, Alpine Global Management LLC acquired a new position in shares of Fortive during the third quarter worth about $53,088,000. Hedge funds and other institutional investors own 85.08% of the company’s stock.
Several research analysts recently commented on FTV shares. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Thursday, February 14th. Barclays boosted their price target on Fortive from $81.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. TheStreet cut Fortive from a “b-” rating to a “c” rating in a research note on Wednesday, December 19th. William Blair reiterated a “market perform” rating on shares of Fortive in a research note on Tuesday, February 12th. Finally, Morgan Stanley upgraded Fortive from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $84.00 to $82.00 in a research note on Tuesday, December 18th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Fortive presently has an average rating of “Buy” and an average target price of $85.90.
Fortive stock traded up $0.82 during midday trading on Thursday, hitting $86.85. The stock had a trading volume of 1,925,651 shares, compared to its average volume of 1,480,398. The company has a quick ratio of 1.18, a current ratio of 1.45 and a debt-to-equity ratio of 0.45. The firm has a market cap of $28.82 billion, a P/E ratio of 28.38, a P/E/G ratio of 2.04 and a beta of 1.14. Fortive Corp has a 12 month low of $62.89 and a 12 month high of $88.34.
Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, February 7th. The technology company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.77 billion. Fortive had a return on equity of 22.42% and a net margin of 40.50%. Fortive’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 earnings per share. As a group, equities research analysts anticipate that Fortive Corp will post 3.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, February 22nd were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.32%. The ex-dividend date was Thursday, February 21st. Fortive’s dividend payout ratio is currently 9.15%.
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Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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