Bainco International Investors lowered its holdings in shares of Fortive Corp (NYSE:FTV) by 2.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 118,208 shares of the technology company’s stock after selling 2,860 shares during the period. Fortive accounts for approximately 1.6% of Bainco International Investors’ holdings, making the stock its 21st largest position. Bainco International Investors’ holdings in Fortive were worth $9,916,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Zeke Capital Advisors LLC lifted its position in Fortive by 2.9% during the first quarter. Zeke Capital Advisors LLC now owns 4,378 shares of the technology company’s stock worth $367,000 after acquiring an additional 125 shares during the last quarter. Emerald Advisers LLC lifted its position in Fortive by 0.7% during the first quarter. Emerald Advisers LLC now owns 21,120 shares of the technology company’s stock worth $1,772,000 after acquiring an additional 144 shares during the last quarter. Norway Savings Bank lifted its position in Fortive by 2.3% during the first quarter. Norway Savings Bank now owns 7,187 shares of the technology company’s stock worth $603,000 after acquiring an additional 165 shares during the last quarter. Trust Co. of Vermont lifted its position in Fortive by 3.2% during the first quarter. Trust Co. of Vermont now owns 5,275 shares of the technology company’s stock worth $443,000 after acquiring an additional 166 shares during the last quarter. Finally, Banco Santander S.A. lifted its position in Fortive by 0.7% during the fourth quarter. Banco Santander S.A. now owns 24,478 shares of the technology company’s stock worth $1,656,000 after acquiring an additional 173 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.
FTV has been the subject of a number of recent analyst reports. Berenberg Bank started coverage on shares of Fortive in a research report on Wednesday. They issued a “buy” rating and a $96.00 price objective for the company. ValuEngine downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday. Morgan Stanley cut shares of Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 target price on the stock. in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Finally, Argus restated a “buy” rating on shares of Fortive in a research report on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Fortive has an average rating of “Buy” and a consensus target price of $88.13.
In other Fortive news, SVP Barbara B. Hulit sold 11,386 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $86.16, for a total value of $981,017.76. Following the sale, the senior vice president now owns 48,891 shares of the company’s stock, valued at approximately $4,212,448.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Emily A. Weaver sold 650 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $80.92, for a total transaction of $52,598.00. Following the completion of the sale, the vice president now directly owns 9,146 shares in the company, valued at approximately $740,094.32. The disclosure for this sale can be found here. In the last three months, insiders sold 18,600 shares of company stock worth $1,571,781. Insiders own 12.70% of the company’s stock.
Shares of Fortive stock opened at $81.36 on Thursday. The firm has a market capitalization of $26.98 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 1.72 and a beta of 1.13. Fortive Corp has a 12-month low of $62.89 and a 12-month high of $89.48. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.97 and a current ratio of 2.20.
Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $0.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.69. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.63 billion. Fortive had a net margin of 39.98% and a return on equity of 19.44%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. Research analysts expect that Fortive Corp will post 3.6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Thursday, May 30th. Fortive’s dividend payout ratio (DPR) is presently 9.15%.
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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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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