Van ECK Associates Corp Boosts Stock Position in Fortive Co. (NYSE:FTV)

Van ECK Associates Corp raised its stake in Fortive Co. (NYSE:FTV) by 129.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,633 shares of the technology company’s stock after purchasing an additional 41,506 shares during the period. Van ECK Associates Corp’s holdings in Fortive were worth $5,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its position in Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock valued at $308,000 after acquiring an additional 135 shares in the last quarter. Wedmont Private Capital increased its position in shares of Fortive by 4.3% in the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock valued at $252,000 after buying an additional 137 shares in the last quarter. Patton Albertson Miller Group LLC increased its position in shares of Fortive by 1.7% in the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after buying an additional 150 shares in the last quarter. Andina Capital Management LLC increased its position in shares of Fortive by 3.4% in the third quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock valued at $362,000 after buying an additional 152 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of Fortive by 1.6% in the third quarter. Atria Investments Inc now owns 10,591 shares of the technology company’s stock valued at $836,000 after buying an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

Shares of NYSE FTV opened at $81.75 on Wednesday. The firm has a market capitalization of $28.36 billion, a P/E ratio of 32.57, a PEG ratio of 2.14 and a beta of 1.15. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The company’s fifty day moving average is $77.87 and its two-hundred day moving average is $75.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same period in the prior year, the business posted $0.98 earnings per share. Analysts forecast that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.39%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is 12.75%.

Analyst Ratings Changes

FTV has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Wells Fargo & Company upped their price target on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. cut their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Barclays decreased their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, StockNews.com cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average target price of $87.64.

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.