ING Groep NV Increases Stock Holdings in Fortive Co. (NYSE:FTV)

ING Groep NV lifted its stake in shares of Fortive Co. (NYSE:FTV) by 34.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 178,313 shares of the technology company’s stock after buying an additional 45,458 shares during the period. ING Groep NV owned about 0.05% of Fortive worth $13,373,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Raymond James & Associates boosted its position in shares of Fortive by 15.0% during the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after buying an additional 51,690 shares during the last quarter. First Hawaiian Bank boosted its position in shares of Fortive by 197.0% during the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after buying an additional 10,125 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Fortive by 2.7% during the third 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock valued at $2,832,000 after buying an additional 7,829 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Fortive in the third quarter worth $1,346,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Down 1.3 %

Shares of NYSE FTV opened at $81.94 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The stock has a market capitalization of $28.43 billion, a PE ratio of 34.72, a P/E/G ratio of 2.67 and a beta of 1.15. The business’s fifty day moving average price is $78.14 and its 200-day moving average price is $75.99.

Fortive (NYSE:FTV) last released its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts anticipate that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.39%. Fortive’s payout ratio is 13.56%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays cut their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial boosted their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group assumed coverage on Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research 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. Based on data from MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average price target of $87.64.

About Fortive

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.