Norinchukin Bank The raised its stake in shares of Fortive Corporation (NYSE:FTV) by 8.5% during the 3rd quarter, according to the company in its most recent Form 13F filing 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 period. Norinchukin Bank The’s holdings in Fortive were worth $1,607,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Fortive by 3.1% during the second quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock worth $1,305,909,000 after purchasing an additional 620,784 shares during the last quarter. BlackRock Inc. increased its position in shares of Fortive by 11.7% during the second quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock valued at $1,171,255,000 after acquiring an additional 1,934,309 shares during the last quarter. Capital World Investors increased its position in shares of Fortive by 37.9% during the second quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock valued at $622,996,000 after acquiring an additional 2,701,496 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Fortive by 41.2% during the second quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock valued at $210,997,000 after acquiring an additional 971,997 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Fortive by 64,460.2% in the second quarter. Bessemer Group Inc. now owns 2,640,512 shares of the technology company’s stock worth $167,275,000 after acquiring an additional 2,636,422 shares during the last quarter. Institutional investors and hedge funds own 78.96% of the company’s stock.
Fortive Corporation (NYSE FTV) opened at $74.23 on Tuesday. The company has a market capitalization of $25,920.95, a P/E ratio of 27.02, a PEG ratio of 2.58 and a beta of 0.38. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.95. Fortive Corporation has a one year low of $52.99 and a one year high of $75.69.
Fortive (NYSE:FTV) last released its earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Fortive had a return on equity of 31.67% and a net margin of 14.39%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the business posted $0.65 EPS. The business’s revenue was up 7.4% on a year-over-year basis. sell-side analysts anticipate that Fortive Corporation will post 2.85 earnings per share for the current year.
The business also recently announced 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 0.38%. The ex-dividend date is Wednesday, November 22nd. Fortive’s dividend payout ratio is presently 10.57%.
In related news, SVP Stacey A. Walker sold 4,775 shares of Fortive stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James A. Lico sold 50,000 shares of Fortive stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total value of $3,657,000.00. Following the transaction, the insider now directly owns 166,014 shares in the company, valued at $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is owned by company insiders.
A number of equities analysts have recently commented on the stock. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday. ValuEngine cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. BMO Capital Markets started coverage on shares of Fortive in a research note on Wednesday, November 15th. They issued an “outperform” rating and a $82.00 price objective on the stock. SunTrust Banks restated a “buy” rating and set a $81.00 target price on shares of Fortive in a research report on Friday, October 27th. Finally, Citigroup boosted their target price on shares of Fortive from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $70.27.
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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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