Wilmington Savings Fund Society FSB Grows Stock Holdings in Fortive Co. (NYSE:FTV)

Wilmington Savings Fund Society FSB increased its position in Fortive Co. (NYSE:FTV) by 30.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,534 shares of the technology company’s stock after buying an additional 1,762 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Fortive were worth $565,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Raymond James & Associates boosted its stake in shares of Fortive by 15.0% in the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after acquiring an additional 51,690 shares during the period. First Hawaiian Bank boosted its stake in Fortive by 197.0% in the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock worth $1,145,000 after purchasing an additional 10,125 shares during the period. Principal Financial Group Inc. grew its holdings in Fortive by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after buying an additional 10,795 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Fortive during the third quarter valued at approximately $1,346,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Fortive by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock worth $2,832,000 after buying an additional 7,829 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group started coverage on shares of Fortive in a research note on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price for the company. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Barclays dropped their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. lowered their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.64.

Fortive Trading Up 1.8 %

Shares of FTV opened at $80.54 on Tuesday. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $77.65 and its 200-day simple moving average is $75.40. The company has a market cap of $27.94 billion, a P/E ratio of 32.09, a P/E/G ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTV) last announced its quarterly earnings data 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 net margin of 14.35% and a return on equity of 12.56%. During the same period in the prior year, the company earned $0.98 earnings per share. As a group, analysts expect 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. Shareholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

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.