Massachusetts Financial Services Co. MA Has $289.98 Million Stake in Fortive Co. (NYSE:FTV)

Massachusetts Financial Services Co. MA lessened its stake in Fortive Co. (NYSE:FTVFree Report) by 20.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,910,221 shares of the technology company’s stock after selling 985,022 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Fortive were worth $289,982,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FTV. Fairfield Bush & CO. bought a new stake in Fortive in the first quarter valued at about $66,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Fortive by 6.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,124,090 shares of the technology company’s stock worth $129,421,000 after acquiring an additional 127,093 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Fortive by 123.0% in the first quarter. Panagora Asset Management Inc. now owns 19,004 shares of the technology company’s stock worth $1,158,000 after acquiring an additional 10,481 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of Fortive by 11.7% in the first quarter. Cibc World Market Inc. now owns 21,144 shares of the technology company’s stock worth $1,288,000 after acquiring an additional 2,217 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Fortive by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,693,658 shares of the technology company’s stock worth $103,217,000 after acquiring an additional 84,238 shares in the last quarter. Institutional investors own 95.95% of the company’s stock.

Fortive Price Performance

Shares of NYSE FTV opened at $82.28 on Tuesday. The firm has a market cap of $28.92 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 2.61 and a beta of 1.13. The company has a current ratio of 1.57, a quick ratio of 1.34 and a debt-to-equity ratio of 0.30. Fortive Co. has a 1-year low of $62.70 and a 1-year high of $83.46. The business’s 50 day moving average is $72.56 and its 200-day moving average is $73.21.

Fortive (NYSE:FTVGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company earned $0.88 EPS. The company’s revenue was up 3.5% on a year-over-year basis. Equities research analysts predict that Fortive Co. will post 3.78 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, February 23rd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.39%. Fortive’s dividend payout ratio (DPR) is presently 13.11%.

Analyst Ratings Changes

Several brokerages have issued reports on FTV. Vertical Research downgraded Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Mizuho upped their price objective on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Wells Fargo & Company upped their price objective on Fortive from $79.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upped their price objective on Fortive from $83.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, UBS Group increased their price target on Fortive from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, October 10th. Six investment 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, the company presently has an average rating of “Moderate Buy” and an average price target of $81.92.

Check Out Our Latest Analysis on FTV

About Fortive

(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.

See Also

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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