DekaBank Deutsche Girozentrale Has $18.28 Million Stake in Fortive Co. (NYSE:FTV)

DekaBank Deutsche Girozentrale grew its holdings in Fortive Co. (NYSE:FTV) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,715 shares of the technology company’s stock after purchasing an additional 12,361 shares during the period. DekaBank Deutsche Girozentrale owned about 0.07% of Fortive worth $18,276,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FTV. Private Advisor Group LLC acquired a new position in shares of Fortive in the 4th quarter valued at about $283,000. Janney Montgomery Scott LLC increased its holdings in Fortive by 9.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,060 shares of the technology company’s stock worth $1,109,000 after buying an additional 1,357 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Fortive by 4.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock worth $201,000 after buying an additional 126 shares during the last quarter. Level Four Advisory Services LLC increased its holdings in Fortive by 2.4% in the fourth quarter. Level Four Advisory Services LLC now owns 22,443 shares of the technology company’s stock worth $1,653,000 after buying an additional 529 shares during the last quarter. Finally, ING Groep NV increased its holdings in Fortive by 24,700.0% in the fourth quarter. ING Groep NV now owns 48,112 shares of the technology company’s stock worth $3,542,000 after buying an additional 47,918 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $77.00 price objective on shares of Fortive in a report on Friday, September 6th. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a report on Thursday, September 5th. Truist Financial dropped their price objective on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and increased their price target for the company from $80.00 to $90.00 in a report on Friday, September 6th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.23.

Fortive Stock Up 0.3 %

FTV opened at $73.60 on Monday. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 2.11 and a beta of 1.11. The business has a 50 day moving average of $72.28 and a 200-day moving average of $76.44.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the business earned $0.85 earnings per share. Fortive’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s dividend payout ratio is 12.65%.

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.