Fortive Co. (NYSE:FTV) Shares Bought by Capital International Sarl

Capital International Sarl boosted its stake in shares of Fortive Co. (NYSE:FTV) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,609 shares of the technology company’s stock after purchasing an additional 4,953 shares during the quarter. Capital International Sarl’s holdings in Fortive were worth $3,800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC bought a new stake in shares of Fortive in the 3rd quarter worth $28,000. Cetera Trust Company N.A bought a new stake in shares of Fortive in the 4th quarter worth $28,000. First Command Advisory Services Inc. bought a new stake in shares of Fortive in the 3rd quarter worth $30,000. Spire Wealth Management grew its holdings in shares of Fortive by 69.3% in the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock worth $37,000 after acquiring an additional 208 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of Fortive in the 4th quarter worth $38,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Fortive stock traded up $0.87 during mid-day trading on Wednesday, reaching $73.65. The company’s stock had a trading volume of 1,555,516 shares, compared to its average volume of 1,638,037. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The company has a market capitalization of $25.93 billion, a P/E ratio of 29.02, a PEG ratio of 2.14 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. The firm’s fifty day moving average price is $78.82 and its two-hundred day moving average price is $77.63.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. Sell-side analysts predict that Fortive Co. will post 3.8 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive’s dividend payout ratio is currently 12.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FTV shares. Truist Financial began coverage on Fortive in a research note on Thursday, March 14th. They issued a “buy” rating and a $99.00 target price on the stock. Royal Bank of Canada dropped their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a report on Thursday, April 25th. Barclays raised their price target on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Citigroup lowered their target price on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Wells Fargo & Company lowered their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.46.

Fortive Company Profile

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.