First Republic Investment Management Inc. lifted its position in Fortive Corp (NYSE:FTV) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 170,518 shares of the technology company’s stock after buying an additional 16,197 shares during the period. First Republic Investment Management Inc.’s holdings in Fortive were worth $12,337,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD grew its position in Fortive by 1,737.6% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 455,129 shares of the technology company’s stock worth $32,218,000 after purchasing an additional 430,362 shares during the last quarter. Janus Henderson Group PLC grew its position in Fortive by 106.3% during the 3rd quarter. Janus Henderson Group PLC now owns 821,560 shares of the technology company’s stock worth $58,157,000 after purchasing an additional 423,247 shares during the last quarter. Schroder Investment Management Group grew its position in Fortive by 39.4% during the 4th quarter. Schroder Investment Management Group now owns 1,364,280 shares of the technology company’s stock worth $98,706,000 after purchasing an additional 385,630 shares during the last quarter. BlackRock Inc. grew its position in Fortive by 1.7% during the 4th quarter. BlackRock Inc. now owns 20,013,760 shares of the technology company’s stock worth $1,447,996,000 after purchasing an additional 336,327 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Fortive by 14.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,221,540 shares of the technology company’s stock worth $155,332,000 after purchasing an additional 273,003 shares during the last quarter. 78.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fortive Corp (FTV) opened at $77.14 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.47 and a current ratio of 1.83. Fortive Corp has a 12 month low of $56.73 and a 12 month high of $77.23. The company has a market cap of $26,810.00 and a P/E ratio of 27.95.
Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. Fortive had a net margin of 15.69% and a return on equity of 30.54%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the business posted $0.68 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. equities research analysts predict that Fortive Corp will post 3.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, February 23rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.36%. The ex-dividend date is Thursday, February 22nd. Fortive’s payout ratio is 10.14%.
Several research firms have weighed in on FTV. BMO Capital Markets dropped their target price on shares of Fortive from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Thursday, January 11th. Barclays began coverage on shares of Fortive in a research report on Thursday, February 15th. They set an “overweight” rating and a $86.00 target price on the stock. Citigroup boosted their target price on shares of Fortive from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Fortive in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $77.50.
WARNING: This article was reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The original version of this article can be accessed at https://transcriptdaily.com/2018/02/24/first-republic-investment-management-inc-has-12-34-million-stake-in-fortive-corp-ftv.html.
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.
Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Corp (NYSE:FTV).
Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.