BankPlus Trust Department Buys Shares of 790 Fortive Co. (NYSE:FTV)

BankPlus Trust Department bought a new stake in Fortive Co. (NYSE:FTV) during the 4th quarter, Holdings Channel reports. The firm bought 790 shares of the technology company’s stock, valued at approximately $59,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Union Bancaire Privee UBP SA purchased a new position in shares of Fortive in the 4th quarter valued at approximately $383,000. Capital City Trust Co. FL boosted its stake in shares of Fortive by 8.1% in the fourth quarter. Capital City Trust Co. FL now owns 13,208 shares of the technology company’s stock valued at $991,000 after buying an additional 990 shares in the last quarter. Redmond Asset Management LLC boosted its stake in shares of Fortive by 7.9% in the fourth quarter. Redmond Asset Management LLC now owns 14,373 shares of the technology company’s stock valued at $1,078,000 after buying an additional 1,055 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. boosted its stake in shares of Fortive by 0.3% in the fourth quarter. Eubel Brady & Suttman Asset Management Inc. now owns 277,771 shares of the technology company’s stock valued at $20,833,000 after buying an additional 921 shares in the last quarter. Finally, ING Groep NV boosted its stake in shares of Fortive by 34.2% in the fourth quarter. ING Groep NV now owns 178,313 shares of the technology company’s stock valued at $13,373,000 after buying an additional 45,458 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FTV. Barclays decreased their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada lifted their price target on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. Wells Fargo & Company lifted their price target on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. decreased their target price 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

Fortive Stock Performance

NYSE FTV opened at $79.62 on Wednesday. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The stock has a market cap of $27.62 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. The business has a fifty day moving average of $78.34 and a 200-day moving average of $76.35. 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 (NYSE:FTV) last released its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping 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 period in the previous year, the business earned $0.98 earnings per share. As a group, analysts predict that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is 13.56%.

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.