Metis Global Partners LLC Buys 1,509 Shares of Fortive Co. (NYSE:FTV)

Metis Global Partners LLC lifted its stake in Fortive Co. (NYSE:FTVFree Report) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,638 shares of the technology company’s stock after purchasing an additional 1,509 shares during the period. Metis Global Partners LLC’s holdings in Fortive were worth $2,124,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Fortive by 2.7% in the first quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock worth $2,288,355,000 after purchasing an additional 989,883 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Fortive by 3.7% in the second quarter. BlackRock Inc. now owns 31,960,801 shares of the technology company’s stock worth $2,389,709,000 after purchasing an additional 1,135,961 shares during the last quarter. State Street Corp grew its holdings in shares of Fortive by 1.5% in the second quarter. State Street Corp now owns 13,569,130 shares of the technology company’s stock worth $1,014,564,000 after purchasing an additional 206,501 shares during the last quarter. Flossbach Von Storch AG grew its holdings in shares of Fortive by 0.4% in the third quarter. Flossbach Von Storch AG now owns 10,595,464 shares of the technology company’s stock worth $785,760,000 after purchasing an additional 47,149 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Fortive by 2.3% in the second quarter. Geode Capital Management LLC now owns 7,465,710 shares of the technology company’s stock worth $556,733,000 after purchasing an additional 166,752 shares during the last quarter. 95.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FTV has been the subject of a number of research reports. BNP Paribas initiated coverage on shares of Fortive in a research note on Thursday, October 5th. They issued an “outperform” rating and a $91.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Fortive from $70.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. Barclays lowered their price objective on shares of Fortive from $83.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. UBS Group upped their price objective on shares of Fortive from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Finally, Royal Bank of Canada lowered their price objective on shares of Fortive from $79.00 to $73.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Fortive currently has an average rating of “Moderate Buy” and an average price target of $79.15.

Check Out Our Latest Research Report on FTV

Fortive Stock Performance

Shares of Fortive stock opened at $74.70 on Wednesday. The firm has a market capitalization of $26.25 billion, a P/E ratio of 32.06, a PEG ratio of 2.70 and a beta of 1.14. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average price of $71.45 and a 200 day moving average price of $73.02. Fortive Co. has a 52 week low of $62.70 and a 52 week high of $79.90.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, February 23rd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortive’s payout ratio is currently 13.73%.

Fortive Profile

(Free Report)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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