Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Fortive Corporation (NYSE:FTV) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,200 shares of the technology company’s stock after buying an additional 1,400 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Fortive were worth $5,061,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirador Capital Partners LP boosted its position in Fortive by 0.4% during the 2nd quarter. Mirador Capital Partners LP now owns 6,013 shares of the technology company’s stock worth $404,000 after purchasing an additional 26 shares during the period. North Star Asset Management Inc. boosted its position in Fortive by 0.4% during the 2nd quarter. North Star Asset Management Inc. now owns 7,701 shares of the technology company’s stock worth $488,000 after purchasing an additional 32 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Fortive by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,402 shares of the technology company’s stock worth $1,419,000 after purchasing an additional 72 shares during the period. TCI Wealth Advisors Inc. boosted its position in Fortive by 2.8% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,847 shares of the technology company’s stock worth $180,000 after purchasing an additional 77 shares during the period. Finally, J.P. Marvel Investment Advisors LLC boosted its position in Fortive by 0.5% during the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 16,785 shares of the technology company’s stock worth $1,063,000 after purchasing an additional 90 shares during the period. 78.96% of the stock is owned by institutional investors.
A number of analysts recently weighed in on FTV shares. BMO Capital Markets started coverage on shares of Fortive in a research report on Wednesday, November 15th. They set an “outperform” rating and a $82.00 price target for the company. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Tuesday, September 26th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $70.00 price target on shares of Fortive in a research report on Wednesday, October 11th. Citigroup reaffirmed a “neutral” rating and set a $72.00 price target (up from $65.00) on shares of Fortive in a research report on Monday, October 9th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $81.00 price target on shares of Fortive in a research report on Friday, October 27th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $70.27.
Fortive Corporation (FTV) opened at $73.69 on Friday. Fortive Corporation has a 1-year low of $52.99 and a 1-year high of $75.69. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54. The company has a market cap of $25,611.62, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 2.54 and a beta of 0.38.
Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.66 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. equities analysts expect that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, November 24th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. Fortive’s dividend payout ratio is currently 10.57%.
In other Fortive news, SVP Stacey A. Walker sold 4,775 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider James A. Lico sold 50,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 166,014 shares in the company, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.
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Fortive Company Profile
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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