Bourgeon Capital Management LLC Acquires 2,050 Shares of Fortive Corporation (NYSE:FTV)
Bourgeon Capital Management LLC raised its stake in Fortive Corporation (NYSE:FTV) by 11.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 19,850 shares of the technology company’s stock after buying an additional 2,050 shares during the period. Bourgeon Capital Management LLC’s holdings in Fortive Corporation were worth $1,257,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Crestwood Advisors Group LLC acquired a new position in shares of Fortive Corporation during the first quarter valued at $102,000. Jacobi Capital Management LLC boosted its position in shares of Fortive Corporation by 25.5% in the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock valued at $104,000 after buying an additional 350 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of Fortive Corporation by 20.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,800 shares of the technology company’s stock valued at $108,000 after buying an additional 300 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Fortive Corporation by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock valued at $112,000 after buying an additional 7 shares during the period. Finally, CENTRAL TRUST Co boosted its position in shares of Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 79.85% of the company’s stock.
Shares of Fortive Corporation (NYSE FTV) opened at 65.60 on Friday. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $67.48. The stock has a market capitalization of $22.77 billion, a price-to-earnings ratio of 25.84 and a beta of 0.23. The company has a 50-day moving average of $64.42 and a 200 day moving average of $61.24.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company posted $0.64 earnings per share. Fortive Corporation’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts predict that Fortive Corporation will post $2.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Fortive Corporation’s payout ratio is presently 11.02%.
Several brokerages have recently weighed in on FTV. Barclays PLC set a $66.00 price objective on shares of Fortive Corporation and gave the stock a “buy” rating in a research note on Sunday, April 30th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $66.00 target price (up from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Monday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a report on Sunday, July 30th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $61.82.
In other news, VP Emily A. Weaver sold 3,749 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total value of $233,450.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Raj Ratnakar sold 11,642 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $62.31, for a total value of $725,413.02. Following the completion of the sale, the vice president now owns 5,020 shares of the company’s stock, valued at $312,796.20. The disclosure for this sale can be found here. 12.10% of the stock is owned by insiders.
Fortive Corporation Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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