Fortive Corp (NYSE:FTV) Stake Lifted by Chartwell Investment Partners LLC
Chartwell Investment Partners LLC lifted its position in shares of Fortive Corp (NYSE:FTV) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,735 shares of the technology company’s stock after buying an additional 2,031 shares during the period. Chartwell Investment Partners LLC’s holdings in Fortive were worth $1,428,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Marble Harbor Investment Counsel LLC boosted its position in Fortive by 9.0% in the 3rd quarter. Marble Harbor Investment Counsel LLC now owns 8,475 shares of the technology company’s stock valued at $600,000 after buying an additional 700 shares during the last quarter. Amalgamated Bank boosted its position in Fortive by 2.0% in the 3rd quarter. Amalgamated Bank now owns 36,808 shares of the technology company’s stock valued at $2,606,000 after buying an additional 719 shares during the last quarter. CIBC Asset Management Inc boosted its position in Fortive by 2.7% in the 3rd quarter. CIBC Asset Management Inc now owns 30,124 shares of the technology company’s stock valued at $2,132,000 after buying an additional 781 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Fortive by 0.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 113,914 shares of the technology company’s stock valued at $8,242,000 after buying an additional 797 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in Fortive by 0.5% in the 3rd quarter. Nationwide Fund Advisors now owns 162,953 shares of the technology company’s stock valued at $11,535,000 after buying an additional 798 shares during the last quarter. Institutional investors and hedge funds own 80.21% of the company’s stock.
A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BMO Capital Markets reissued a “buy” rating and issued a $88.00 price objective on shares of Fortive in a research report on Friday, January 26th. Royal Bank of Canada restated a “hold” rating and issued a $79.00 target price on shares of Fortive in a research note on Thursday, January 4th. Finally, UBS Group started coverage on shares of Fortive in a research note on Monday, January 22nd. They issued a “buy” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $77.50.
Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, February 8th. The technology company reported $0.82 earnings per share for the quarter, topping 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 firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. Fortive’s quarterly revenue was up 11.0% on a year-over-year basis. equities analysts anticipate that Fortive Corp will post 3.42 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, February 23rd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.36%. Fortive’s payout ratio is currently 9.46%.
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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.
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