Union Bancaire Privee UBP SA Buys New Shares in Fortive Co. (NYSE:FTV)

Union Bancaire Privee UBP SA bought a new stake in Fortive Co. (NYSE:FTV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,378 shares of the technology company’s stock, valued at approximately $383,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Private Advisor Group LLC boosted 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 worth $308,000 after purchasing an additional 135 shares during the period. Wedmont Private Capital boosted its position in Fortive by 4.3% during the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock worth $252,000 after purchasing an additional 137 shares during the period. Patton Albertson Miller Group LLC boosted its position in Fortive by 1.7% during the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock worth $699,000 after purchasing an additional 150 shares during the period. Andina Capital Management LLC boosted its position in Fortive by 3.4% during the third quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock worth $362,000 after purchasing an additional 152 shares during the period. Finally, Atria Investments Inc boosted its position in Fortive by 1.6% during the third quarter. Atria Investments Inc now owns 10,591 shares of the technology company’s stock worth $836,000 after purchasing an additional 163 shares during the period. 94.94% of the stock is owned by institutional investors.

Fortive Stock Performance

Shares of Fortive stock opened at $80.09 on Tuesday. The company has a 50 day moving average of $78.27 and a 200-day moving average of $76.28. The company has a market cap of $27.79 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period last year, the business posted $0.98 EPS. As a group, equities research analysts forecast that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio is currently 13.56%.

Analysts Set New Price Targets

A number of research firms have commented on FTV. Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Barclays reduced their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada boosted their target price on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Truist Financial boosted their target price on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.64.

Fortive 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.