5,378 Shares in Fortive Co. (NYSE:FTV) Acquired by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA acquired a new position in shares of Fortive Co. (NYSE:FTV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,378 shares of the technology company’s stock, valued at approximately $383,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Hawaiian Bank boosted its stake in Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock worth $1,145,000 after acquiring an additional 10,125 shares during the last quarter. Principal Financial Group Inc. raised 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 worth $32,052,000 after buying an additional 10,795 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Fortive by 26.4% during the 4th 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 during the period. XTX Topco Ltd acquired a new stake in Fortive during the 3rd quarter worth approximately $1,346,000. Finally, Nordea Investment Management AB raised its holdings in Fortive by 23.9% during the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock worth $118,292,000 after buying an additional 303,788 shares during the period. Institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

NYSE FTV opened at $80.09 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The company has a market capitalization of $27.79 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. The firm’s 50 day moving average is $78.27 and its 200-day moving average is $76.28.

Fortive (NYSE:FTV) last released its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the previous year, the firm earned $0.98 earnings per share. Equities research analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio is presently 13.56%.

Wall Street Analyst Weigh In

Several brokerages have commented on FTV. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Argus restated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Truist Financial raised their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.64.

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.