Tocqueville Asset Management L.P. increased its stake in Fortive Corp (NYSE:FTV) by 36.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,505 shares of the technology company’s stock after purchasing an additional 2,000 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Fortive were worth $612,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Zeke Capital Advisors LLC raised its holdings in Fortive by 2.9% during the first quarter. Zeke Capital Advisors LLC now owns 4,378 shares of the technology company’s stock valued at $367,000 after acquiring an additional 125 shares during the period. Emerald Advisers LLC raised its holdings in Fortive by 0.7% during the first quarter. Emerald Advisers LLC now owns 21,120 shares of the technology company’s stock valued at $1,772,000 after acquiring an additional 144 shares during the period. Mcmillion Capital Management Inc. raised its holdings in Fortive by 3.1% during the first quarter. Mcmillion Capital Management Inc. now owns 4,865 shares of the technology company’s stock valued at $408,000 after acquiring an additional 148 shares during the period. Trust Co. of Vermont raised its holdings in Fortive by 3.2% during the first quarter. Trust Co. of Vermont now owns 5,275 shares of the technology company’s stock valued at $443,000 after acquiring an additional 166 shares during the period. Finally, Charter Trust Co. raised its holdings in Fortive by 1.7% during the first quarter. Charter Trust Co. now owns 10,591 shares of the technology company’s stock valued at $888,000 after acquiring an additional 172 shares during the period. 83.64% of the stock is currently owned by institutional investors.
Fortive stock opened at $67.94 on Friday. The company has a 50 day moving average price of $77.41 and a 200-day moving average price of $80.59. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 1.23. Fortive Corp has a fifty-two week low of $62.89 and a fifty-two week high of $89.48. The company has a market capitalization of $23.49 billion, a PE ratio of 22.20, a P/E/G ratio of 2.06 and a beta of 1.19.
Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. On average, analysts forecast that Fortive Corp will post 3.53 earnings per share for the current year.
In other news, SVP Stacey A. Walker sold 34,446 shares of Fortive stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the completion of the sale, the senior vice president now owns 20,015 shares of the company’s stock, valued at $1,415,060.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.70% of the company’s stock.
A number of research firms have commented on FTV. ValuEngine cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Cowen cut Fortive from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $75.00 to $65.00 in a report on Monday, June 3rd. Gordon Haskett cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Raymond James set a $84.00 price target on Fortive and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Morgan Stanley cut Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price target on the stock. in a report on Wednesday, May 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $85.87.
Fortive Company Profile
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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