Oakbrook Investments LLC increased its position in shares of Fortive Corp (NYSE:FTV) by 35.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,120 shares of the technology company’s stock after buying an additional 4,700 shares during the period. Oakbrook Investments LLC’s holdings in Fortive were worth $1,526,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Fortive by 20.0% during the 2nd quarter. FMR LLC now owns 23,755,263 shares of the technology company’s stock worth $1,831,768,000 after buying an additional 3,960,523 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Fortive by 23.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,150,214 shares of the technology company’s stock valued at $397,134,000 after purchasing an additional 984,564 shares during the last quarter. Northern Trust Corp raised its stake in Fortive by 1.1% during the 2nd quarter. Northern Trust Corp now owns 4,355,498 shares of the technology company’s stock valued at $335,852,000 after purchasing an additional 47,476 shares during the last quarter. Bessemer Group Inc. raised its stake in Fortive by 0.3% during the 2nd quarter. Bessemer Group Inc. now owns 3,909,686 shares of the technology company’s stock valued at $301,477,000 after purchasing an additional 13,072 shares during the last quarter. Finally, Winslow Capital Management LLC raised its stake in Fortive by 15.2% during the 2nd quarter. Winslow Capital Management LLC now owns 2,970,792 shares of the technology company’s stock valued at $229,078,000 after purchasing an additional 391,138 shares during the last quarter. 81.42% of the stock is owned by institutional investors and hedge funds.
In other news, insider William W. Pringle sold 6,316 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $81.08, for a total value of $512,101.28. Following the completion of the transaction, the insider now owns 21,066 shares in the company, valued at approximately $1,708,031.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Charles E. Mclaughlin sold 5,514 shares of the stock in a transaction on Thursday, August 2nd. The shares were 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 of the company’s stock, valued at approximately $2,055,495.79. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,602 shares of company stock valued at $6,047,572. Corporate insiders own 12.10% of the company’s stock.
Several equities analysts recently commented on FTV shares. Argus upped their target price on shares of Fortive to $94.00 and gave the company a “buy” rating in a research note on Thursday, September 13th. They noted that the move was a valuation call. UBS Group upped their target price on shares of Fortive from $86.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Monday, October 1st. Credit Suisse Group started coverage on shares of Fortive in a research note on Friday, October 12th. They set a “neutral” rating and a $89.00 target price for the company. Finally, Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, September 4th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $86.33.
NYSE:FTV opened at $79.79 on Friday. Fortive Corp has a one year low of $69.03 and a one year high of $88.34. The firm has a market cap of $27.86 billion, a P/E ratio of 24.33, a P/E/G ratio of 1.92 and a beta of 0.56. The company has a quick ratio of 1.68, a current ratio of 1.96 and a debt-to-equity ratio of 0.52.
Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, July 26th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Fortive had a net margin of 16.38% and a return on equity of 27.22%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The business’s revenue was up 13.9% on a year-over-year basis. As a group, analysts forecast that Fortive Corp will post 3.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, August 31st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Thursday, August 30th. Fortive’s dividend payout ratio is 9.69%.
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.
Further Reading: Book Value Per Share – BVPS
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