Fortive Corp (NYSE:FTV) insider William W. Pringle sold 440 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $79.38, for a total value of $34,927.20. Following the transaction, the insider now directly owns 20,626 shares of the company’s stock, valued at approximately $1,637,291.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of NYSE:FTV traded down $0.09 during midday trading on Friday, hitting $80.25. 2,415,811 shares of the stock were exchanged, compared to its average volume of 1,690,696. The stock has a market cap of $27.83 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 2.15 and a beta of 0.56. The company has a current ratio of 1.96, a quick ratio of 1.68 and a debt-to-equity ratio of 0.52. Fortive Corp has a 12 month low of $63.97 and a 12 month high of $82.63.
Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, July 26th. The technology company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Fortive had a return on equity of 27.22% and a net margin of 16.38%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 earnings per share. equities analysts forecast that Fortive Corp will post 3.49 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Thursday, August 30th. Fortive’s dividend payout ratio (DPR) is currently 9.69%.
Several research analysts have commented on the company. Argus boosted their target price on Fortive from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley boosted their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 31st. Citigroup boosted their target price on Fortive from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. BMO Capital Markets boosted their target price on Fortive from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. Finally, Zacks Investment Research downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Thursday, July 12th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $83.60.
Several large investors have recently added to or reduced their stakes in the company. Global X Management Co LLC grew its holdings in shares of Fortive by 26.7% during the second quarter. Global X Management Co LLC now owns 55,480 shares of the technology company’s stock worth $4,278,000 after purchasing an additional 11,703 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of Fortive by 70.3% during the second quarter. Bank of Nova Scotia now owns 203,169 shares of the technology company’s stock worth $15,671,000 after purchasing an additional 83,874 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Fortive by 36.9% during the second quarter. Jane Street Group LLC now owns 105,137 shares of the technology company’s stock worth $8,107,000 after purchasing an additional 28,346 shares during the last quarter. Signature Financial Management Inc. grew its holdings in shares of Fortive by 88.0% during the second quarter. Signature Financial Management Inc. now owns 16,560 shares of the technology company’s stock worth $1,278,000 after purchasing an additional 7,750 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Fortive by 0.7% during the second quarter. California Public Employees Retirement System now owns 598,049 shares of the technology company’s stock worth $46,116,000 after purchasing an additional 4,209 shares during the last quarter. Institutional investors own 80.86% of the company’s stock.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
Featured Story: Earnings Per Share (EPS)
Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.