Delaney Dennis R lowered its position in shares of Fortive Corp (NYSE:FTV) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,215 shares of the technology company’s stock after selling 135 shares during the period. Delaney Dennis R’s holdings in Fortive were worth $691,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Kentucky Retirement Systems purchased a new stake in shares of Fortive during the fourth quarter worth about $865,000. Great Lakes Advisors LLC grew its stake in shares of Fortive by 20.0% during the third quarter. Great Lakes Advisors LLC now owns 4,516 shares of the technology company’s stock worth $380,000 after acquiring an additional 754 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Fortive by 79.0% during the fourth quarter. Deutsche Bank AG now owns 827,194 shares of the technology company’s stock worth $55,963,000 after acquiring an additional 365,059 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Fortive by 0.9% during the third quarter. Vanguard Group Inc now owns 22,405,241 shares of the technology company’s stock worth $1,890,330,000 after acquiring an additional 203,786 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of Fortive by 2.4% during the fourth quarter. Brown Advisory Inc. now owns 6,321,632 shares of the technology company’s stock worth $427,722,000 after acquiring an additional 146,763 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.
Shares of NYSE:FTV traded down $0.31 during midday trading on Wednesday, reaching $79.59. The company’s stock had a trading volume of 1,651,545 shares, compared to its average volume of 1,440,355. Fortive Corp has a 1 year low of $62.89 and a 1 year high of $89.48. The company has a quick ratio of 1.97, a current ratio of 2.20 and a debt-to-equity ratio of 0.69. The company has a market cap of $26.59 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.72 and a beta of 1.13.
Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $0.69 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.69. Fortive had a return on equity of 19.44% and a net margin of 39.98%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts expect that Fortive Corp will post 3.6 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 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 0.35%. The ex-dividend date of this dividend is Thursday, May 30th. Fortive’s dividend payout ratio is presently 9.15%.
In related news, VP Emily A. Weaver sold 519 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $80.98, for a total value of $42,028.62. Following the transaction, the vice president now owns 8,627 shares in the company, valued at $698,614.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Martin Gafinowitz sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 91,688 shares in the company, valued at approximately $7,494,577.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,684 shares of company stock worth $3,213,523. 12.70% of the stock is currently owned by insiders.
FTV has been the subject of a number of research reports. Argus reaffirmed a “buy” rating on shares of Fortive in a report on Tuesday, April 30th. Zacks Investment Research downgraded Fortive from a “buy” rating to a “hold” rating in a report on Monday. Berenberg Bank initiated coverage on Fortive in a report on Wednesday, May 15th. They set a “buy” rating and a $96.00 target price for the company. Morgan Stanley downgraded Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 target price for the company. in a report on Wednesday, May 8th. They noted that the move was a valuation call. Finally, William Blair reissued a “market perform” rating on shares of Fortive in a report on Tuesday, February 12th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $87.77.
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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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