Fortive Co. (NYSE:FTV) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in shares of Fortive Co. (NYSE:FTV) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,643 shares of the technology company’s stock after buying an additional 2,026 shares during the period. PNC Financial Services Group Inc.’s holdings in Fortive were worth $10,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in FTV. Cetera Trust Company N.A acquired a new position in Fortive during the 4th quarter valued at about $28,000. Spire Wealth Management increased its position in Fortive by 69.3% during the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after buying an additional 208 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of Fortive in the fourth quarter valued at about $38,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Fortive by 1,162.8% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 543 shares of the technology company’s stock valued at $40,000 after purchasing an additional 500 shares during the period. Finally, Richardson Financial Services Inc. acquired a new position in shares of Fortive in the fourth quarter valued at about $43,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Performance

NYSE FTV opened at $73.32 on Wednesday. The company has a market cap of $25.81 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 2.13 and a beta of 1.13. The stock’s 50 day simple moving average is $76.48 and its 200-day simple moving average is $78.00. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. As a group, equities research analysts anticipate that Fortive Co. will post 3.8 EPS for the current fiscal year.

Fortive Announces Dividend

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

Wall Street Analysts Forecast Growth

FTV has been the topic of a number of research reports. Barclays increased their price objective on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Wells Fargo & Company cut their price objective on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Citigroup cut their price objective on Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Finally, Royal Bank of Canada dropped their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, April 25th. Seven 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 stock has a consensus rating of “Moderate Buy” and an average target price of $86.46.

Fortive Company Profile

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.