Zurich Insurance Group Ltd FI lifted its stake in Fortive Corp (NYSE:FTV) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,057 shares of the technology company’s stock after purchasing an additional 4,854 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Fortive were worth $6,405,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Toth Financial Advisory Corp raised its position in Fortive by 105.2% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,375 shares of the technology company’s stock worth $106,000 after buying an additional 705 shares during the last quarter. Signaturefd LLC purchased a new position in Fortive during the 1st quarter worth approximately $114,000. Wharton Business Group LLC purchased a new position in Fortive during the 2nd quarter worth approximately $932,000. Fort L.P. purchased a new position in Fortive during the 2nd quarter worth approximately $122,000. Finally, Flagship Harbor Advisors LLC purchased a new position in Fortive during the 2nd quarter worth approximately $132,000. 81.46% of the stock is owned by hedge funds and other institutional investors.
In related news, insider William W. Pringle sold 440 shares of Fortive stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $79.38, for a total value of $34,927.20. Following the sale, the insider now owns 20,626 shares of the company’s stock, valued at approximately $1,637,291.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Barbara B. Hulit sold 15,000 shares of Fortive stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $82.29, for a total transaction of $1,234,350.00. Following the completion of the sale, the insider now directly owns 51,113 shares in the company, valued at approximately $4,206,088.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,602 shares of company stock valued at $6,047,572. Insiders own 12.10% of the company’s stock.
A number of equities analysts have issued reports on FTV shares. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research report on Friday, June 22nd. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, September 4th. Argus raised their price target on shares of Fortive to $94.00 and gave the stock a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. Morgan Stanley raised their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 31st. Finally, Citigroup raised their price target on shares of Fortive from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $85.00.
NYSE:FTV opened at $86.74 on Monday. The company has a quick ratio of 1.68, a current ratio of 1.96 and a debt-to-equity ratio of 0.52. The company has a market cap of $29.79 billion, a PE ratio of 30.04, a PEG ratio of 2.07 and a beta of 0.55. Fortive Corp has a 1-year low of $69.03 and a 1-year high of $87.64.
Fortive (NYSE:FTV) last posted its earnings results on Thursday, July 26th. The technology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Fortive had a net margin of 16.38% and a return on equity of 27.22%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. analysts expect that Fortive Corp will post 3.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Thursday, August 30th. Fortive’s dividend payout ratio (DPR) is 9.69%.
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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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