CIBC Asset Management Inc Has $3.54 Million Holdings in Fortive Co. (NYSE:FTV)

CIBC Asset Management Inc cut its holdings in shares of Fortive Co. (NYSE:FTVFree Report) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,118 shares of the technology company’s stock after selling 2,213 shares during the period. CIBC Asset Management Inc’s holdings in Fortive were worth $3,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTV. Wellington Management Group LLP lifted its holdings in shares of Fortive by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock valued at $1,415,902,000 after purchasing an additional 181,948 shares in the last quarter. Flossbach Von Storch AG lifted its stake in Fortive by 4.8% in the fourth quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock valued at $817,873,000 after buying an additional 512,414 shares in the last quarter. Brown Advisory Inc. lifted its stake in Fortive by 13.1% in the fourth quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock valued at $557,929,000 after buying an additional 878,523 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Fortive by 2.3% in the third quarter. Northern Trust Corp now owns 3,886,914 shares of the technology company’s stock valued at $288,254,000 after buying an additional 85,560 shares during the period. Finally, Norges Bank acquired a new stake in shares of Fortive during the fourth quarter worth $268,686,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Down 0.5 %

Shares of FTV stock opened at $73.25 on Friday. Fortive Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The stock has a market cap of $25.79 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 2.16 and a beta of 1.13. The firm’s 50-day moving average is $78.32 and its 200-day moving average is $77.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50.

Fortive (NYSE:FTVGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. Sell-side analysts predict that Fortive Co. will post 3.8 EPS for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a $0.08 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. Fortive’s dividend payout ratio is currently 12.65%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Truist Financial began coverage on Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Barclays boosted their target price on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.46.

View Our Latest Report on FTV

Fortive Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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