Dempze Nancy E increased its holdings in Fortive Corp (NYSE:FTV) by 1.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 12,070 shares of the technology company’s stock after acquiring an additional 185 shares during the period. Dempze Nancy E’s holdings in Fortive were worth $985,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lipe & Dalton boosted its position in shares of Fortive by 4.9% during the second quarter. Lipe & Dalton now owns 18,872 shares of the technology company’s stock worth $1,457,000 after buying an additional 875 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Fortive by 53.1% in the second quarter. Quadrant Capital Group LLC now owns 2,842 shares of the technology company’s stock valued at $224,000 after acquiring an additional 986 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Fortive by 1.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 36,418 shares of the technology company’s stock valued at $2,969,000 after acquiring an additional 512 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in shares of Fortive by 2.6% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 8,496 shares of the technology company’s stock valued at $692,000 after acquiring an additional 213 shares in the last quarter. Finally, Mountain Pacific Investment Advisers Inc. ID raised its stake in shares of Fortive by 2.2% in the second quarter. Mountain Pacific Investment Advisers Inc. ID now owns 245,701 shares of the technology company’s stock valued at $20,030,000 after acquiring an additional 5,184 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.
In other Fortive news, insider Martin Gafinowitz sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $81.74, for a total value of $1,634,800.00. Following the sale, the insider now directly owns 91,688 shares in the company, valued at $7,494,577.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Emily A. Weaver sold 519 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $80.98, for a total value of $42,028.62. Following the completion of the sale, the vice president now owns 8,627 shares in the company, valued at $698,614.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,169 shares of company stock worth $1,729,427. 12.70% of the stock is owned by insiders.
Fortive stock traded down $0.11 during midday trading on Friday, reaching $73.64. The company’s stock had a trading volume of 2,103,317 shares, compared to its average volume of 1,762,628. Fortive Corp has a fifty-two week low of $62.89 and a fifty-two week high of $89.48. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The stock has a market cap of $24.75 billion, a P/E ratio of 24.07, a P/E/G ratio of 2.17 and a beta of 1.19. The stock’s 50-day moving average is $79.64.
Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.01. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the firm earned $0.91 earnings per share. Fortive’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, equities research analysts forecast that Fortive Corp will post 3.53 earnings per share for the current year.
FTV has been the topic of several analyst reports. Morgan Stanley cut Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price objective on the stock. in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Cowen cut Fortive from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $75.00 to $65.00 in a research note on Monday, June 3rd. Berenberg Bank initiated coverage on Fortive in a research note on Wednesday, May 15th. They issued a “buy” rating and a $96.00 price objective on the stock. Argus reiterated a “buy” rating on shares of Fortive in a research note on Tuesday, April 30th. Finally, ValuEngine cut Fortive from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $85.87.
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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