Norinchukin Bank The lifted its stake in shares of Fortive Corporation (NYSE:FTV) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,701 shares of the technology company’s stock after purchasing an additional 1,777 shares during the quarter. Norinchukin Bank The’s holdings in Fortive were worth $1,607,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of FTV. Spot Trading L.L.C. bought a new stake in shares of Fortive during the first quarter valued at about $637,000. Creative Planning raised its stake in shares of Fortive by 8.4% during the second quarter. Creative Planning now owns 7,930 shares of the technology company’s stock valued at $502,000 after purchasing an additional 614 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Fortive during the second quarter valued at about $173,000. Greenleaf Trust raised its stake in shares of Fortive by 15.1% during the second quarter. Greenleaf Trust now owns 4,152 shares of the technology company’s stock valued at $263,000 after purchasing an additional 545 shares in the last quarter. Finally, ING Groep NV raised its stake in shares of Fortive by 0.6% during the second quarter. ING Groep NV now owns 15,448 shares of the technology company’s stock valued at $979,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 78.35% of the company’s stock.
Shares of Fortive Corporation (FTV) opened at $72.13 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54. Fortive Corporation has a 1 year low of $52.99 and a 1 year high of $74.38. The company has a market cap of $25,069.43, a PE ratio of 26.13, a price-to-earnings-growth ratio of 2.49 and a beta of 0.37.
Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the business earned $0.65 earnings per share. Fortive’s revenue for the quarter was up 7.4% compared to the same quarter last year. equities analysts anticipate that Fortive Corporation will post 2.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, November 24th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive’s dividend payout ratio (DPR) is presently 10.57%.
FTV has been the topic of a number of recent analyst reports. Stifel Nicolaus restated a “hold” rating and set a $62.00 price objective on shares of Fortive in a research note on Sunday, July 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $66.00 price objective (up from $65.00) on shares of Fortive in a research note on Sunday, July 30th. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Morgan Stanley reiterated an “equal weight” rating and issued a $72.00 price target (up from $71.00) on shares of Fortive in a research report on Monday, October 2nd. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $72.00 price target (up from $65.00) on shares of Fortive in a research report on Monday, October 9th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.27.
In other Fortive news, insider James A. Lico sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the sale, the insider now owns 166,014 shares in the company, valued at approximately $12,142,263.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Stacey A. Walker sold 4,775 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total value of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by insiders.
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Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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