Raymond James & Associates boosted its holdings in Fortive Corp (NYSE:FTV) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,014 shares of the technology company’s stock after purchasing an additional 11,966 shares during the period. Raymond James & Associates owned about 0.06% of Fortive worth $15,809,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Toth Financial Advisory Corp grew its position in shares of Fortive by 105.2% in the 2nd quarter. Toth Financial Advisory Corp now owns 1,375 shares of the technology company’s stock valued at $106,000 after acquiring an additional 705 shares during the period. Signaturefd LLC bought a new position in shares of Fortive in the 1st quarter valued at about $114,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Fortive by 5,816.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,775 shares of the technology company’s stock valued at $137,000 after acquiring an additional 1,745 shares during the period. AdvisorNet Financial Inc bought a new position in shares of Fortive in the 2nd quarter valued at about $143,000. Finally, Stratos Wealth Partners LTD. grew its position in shares of Fortive by 56.3% in the 1st quarter. Stratos Wealth Partners LTD. now owns 2,125 shares of the technology company’s stock valued at $165,000 after acquiring an additional 765 shares during the period. 81.46% of the stock is owned by institutional investors and hedge funds.
In other Fortive news, insider William W. Pringle sold 440 shares of Fortive stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $79.38, for a total value of $34,927.20. Following the completion of the sale, the insider now owns 20,626 shares in the company, valued at approximately $1,637,291.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William W. Pringle sold 6,316 shares of Fortive stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $81.08, for a total transaction of $512,101.28. Following the completion of the sale, the insider now owns 21,066 shares of the company’s stock, valued at approximately $1,708,031.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,602 shares of company stock valued at $6,047,572. 12.10% of the stock is currently owned by corporate insiders.
NYSE FTV opened at $86.98 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 stock has a market cap of $29.79 billion, a PE ratio of 30.10, a P/E/G ratio of 2.07 and a beta of 0.55. Fortive Corp has a 52-week low of $69.03 and a 52-week 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Fortive had a net margin of 16.38% and a return on equity of 27.22%. Fortive’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 EPS. equities research analysts expect that Fortive Corp will post 3.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Thursday, August 30th. Fortive’s dividend payout ratio is presently 9.69%.
FTV has been the subject of a number of analyst reports. TheStreet raised shares of Fortive from a “c” rating to a “b-” rating in a research report on Monday, June 11th. Argus lifted their price objective on shares of Fortive to $94.00 and gave the company a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, June 12th. UBS Group lifted their price objective on shares of Fortive from $86.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Finally, Morgan Stanley lifted their price objective on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Fortive presently has an average rating of “Hold” and an average target price of $85.00.
Fortive Company Profile
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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