Tredje AP fonden boosted its holdings in shares of Fortive Corp (NYSE:FTV) by 163.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,967 shares of the technology company’s stock after acquiring an additional 62,685 shares during the period. Tredje AP fonden’s holdings in Fortive were worth $7,786,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Toth Financial Advisory Corp grew its stake in Fortive by 105.2% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,375 shares of the technology company’s stock valued at $106,000 after acquiring an additional 705 shares in the last quarter. Signaturefd LLC purchased a new stake in Fortive during the 1st quarter valued at about $114,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Fortive by 5,816.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,775 shares of the technology company’s stock valued at $137,000 after acquiring an additional 1,745 shares in the last quarter. AdvisorNet Financial Inc purchased a new stake in Fortive during the 2nd quarter valued at about $143,000. Finally, Stratos Wealth Partners LTD. grew its stake in Fortive by 56.3% during the 1st quarter. Stratos Wealth Partners LTD. now owns 2,125 shares of the technology company’s stock valued at $165,000 after acquiring an additional 765 shares in the last quarter. 82.28% of the stock is owned by institutional investors.
NYSE:FTV traded down $0.23 on Tuesday, hitting $80.37. The stock had a trading volume of 15,078 shares, compared to its average volume of 1,714,458. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.96 and a quick ratio of 1.68. The firm has a market capitalization of $28.02 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.16 and a beta of 0.56. Fortive Corp has a 1-year low of $63.97 and a 1-year high of $82.63.
Fortive (NYSE:FTV) last posted its earnings results on Thursday, July 26th. The technology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. Fortive had a net margin of 16.38% and a return on equity of 27.22%. Fortive’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. equities analysts anticipate that Fortive Corp will post 3.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.35%. Fortive’s dividend payout ratio is currently 9.69%.
In related news, Director Alan G. Spoon acquired 18,000 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were purchased at an average cost of $80.80 per share, for a total transaction of $1,454,400.00. Following the acquisition, the director now owns 48,268 shares in the company, valued at approximately $3,900,054.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 5,514 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $80.89, for a total transaction of $446,027.46. Following the completion of the transaction, the chief financial officer now owns 25,411 shares in the company, valued at $2,055,495.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,602 shares of company stock worth $6,047,572. Company insiders own 12.20% of the company’s stock.
Several analysts recently issued reports on FTV shares. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Friday, June 22nd. Morgan Stanley upped their price objective on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 31st. Citigroup boosted their target price on shares of Fortive from $80.00 to $84.00 and gave the company a “neutral” rating in a report on Monday, July 30th. BMO Capital Markets boosted their target price on shares of Fortive from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 27th. Finally, ValuEngine lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Fortive has an average rating of “Hold” and a consensus target price of $83.60.
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.
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