CIBC World Markets Inc. bought a new position in Fortive Corp (NYSE:FTV) in the 1st quarter, HoldingsChannel reports. The firm bought 2,893 shares of the technology company’s stock, valued at approximately $243,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zeke Capital Advisors LLC grew its stake in shares of Fortive by 2.9% in the 1st quarter. Zeke Capital Advisors LLC now owns 4,378 shares of the technology company’s stock worth $367,000 after acquiring an additional 125 shares in the last quarter. Emerald Advisers LLC grew its stake in shares of Fortive by 0.7% in the 1st quarter. Emerald Advisers LLC now owns 21,120 shares of the technology company’s stock worth $1,772,000 after acquiring an additional 144 shares in the last quarter. Mcmillion Capital Management Inc. grew its stake in shares of Fortive by 3.1% in the 1st quarter. Mcmillion Capital Management Inc. now owns 4,865 shares of the technology company’s stock worth $408,000 after acquiring an additional 148 shares in the last quarter. Norway Savings Bank grew its stake in shares of Fortive by 2.3% in the 1st quarter. Norway Savings Bank now owns 7,187 shares of the technology company’s stock worth $603,000 after acquiring an additional 165 shares in the last quarter. Finally, Trust Co. of Vermont grew its stake in shares of Fortive by 3.2% in the 1st quarter. Trust Co. of Vermont now owns 5,275 shares of the technology company’s stock worth $443,000 after acquiring an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.
NYSE FTV opened at $79.16 on Wednesday. The stock has a market cap of $26.68 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 1.70 and a beta of 1.22. Fortive Corp has a 52 week low of $62.89 and a 52 week high of $89.48. The company has a current ratio of 2.20, a quick ratio of 1.97 and a debt-to-equity ratio of 0.69.
Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $0.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.69. Fortive had a net margin of 39.98% and a return on equity of 19.44%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts anticipate that Fortive Corp will post 3.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, May 30th. Fortive’s payout ratio is currently 9.15%.
A number of equities analysts recently weighed in on FTV shares. William Blair reissued a “market perform” rating on shares of Fortive in a report on Tuesday, February 12th. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Thursday, February 14th. Barclays boosted their price target on shares of Fortive from $81.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. ValuEngine raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Finally, BMO Capital Markets boosted their price target on shares of Fortive from $96.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $85.87.
In other Fortive news, VP Emily A. Weaver sold 650 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $80.92, for a total transaction of $52,598.00. Following the completion of the sale, the vice president now directly owns 9,146 shares in the company, valued at approximately $740,094.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Barbara B. Hulit sold 11,386 shares of Fortive stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $86.16, for a total value of $981,017.76. Following the transaction, the senior vice president now directly owns 48,891 shares in the company, valued at $4,212,448.56. The disclosure for this sale can be found here. Insiders sold 33,155 shares of company stock worth $2,761,762 in the last 90 days. Company insiders own 12.70% of the company’s stock.
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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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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