Prudential Financial Inc. increased its position in shares of Fortive Corp (NYSE:FTV) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,480,434 shares of the technology company’s stock after acquiring an additional 13,954 shares during the period. Prudential Financial Inc. owned about 0.43% of Fortive worth $104,800,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Fortive by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock valued at $1,305,909,000 after acquiring an additional 620,784 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Fortive by 11.7% in the 2nd 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 holdings in shares of Fortive by 37.9% in the 2nd 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 holdings in shares of Fortive by 41.2% in the 2nd 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, Franklin Resources Inc. increased its holdings in shares of Fortive by 13.6% in the 2nd quarter. Franklin Resources Inc. now owns 2,370,300 shares of the technology company’s stock valued at $150,158,000 after acquiring an additional 283,550 shares during the last quarter. 78.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on FTV shares. SunTrust Banks reiterated a “buy” rating and issued a $81.00 price objective on shares of Fortive in a report on Friday, October 27th. Citigroup raised their price target on Fortive from $72.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Royal Bank of Canada reaffirmed a “hold” rating and set a $70.00 price objective on shares of Fortive in a research report on Wednesday, October 11th. Argus raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, BMO Capital Markets initiated coverage on Fortive in a report on Wednesday, November 15th. They set an “outperform” rating and a $82.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $71.36.
Shares of Fortive Corp (FTV) opened at $73.02 on Thursday. Fortive Corp has a 1 year low of $53.26 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 capitalization of $25,380.00 and a price-to-earnings ratio of 27.55.
Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. Fortive had a return on equity of 31.67% and a net margin of 14.39%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. analysts expect that Fortive Corp will post 2.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, November 24th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Wednesday, November 22nd. Fortive’s dividend payout ratio (DPR) is 10.57%.
In related news, SVP Stacey A. Walker sold 4,775 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider James A. Lico sold 50,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Fortive Corp (NYSE:FTV) Shares Bought by Prudential Financial Inc.” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright legislation. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/01/11/prudential-financial-inc-grows-position-in-fortive-corp-ftv.html.
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.
Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.