Chevy Chase Trust Holdings Inc. Raises Holdings in Fortive Corporation (FTV)
Chevy Chase Trust Holdings Inc. raised its stake in Fortive Corporation (NYSE:FTV) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 567,232 shares of the technology company’s stock after purchasing an additional 16,621 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.16% of Fortive worth $40,155,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. APG Asset Management N.V. lifted its holdings in shares of Fortive by 49.7% during the 3rd quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock worth $154,483,000 after acquiring an additional 724,400 shares during the period. Swiss National Bank lifted its holdings in shares of Fortive by 3.2% during the 2nd quarter. Swiss National Bank now owns 1,137,872 shares of the technology company’s stock worth $72,084,000 after acquiring an additional 35,300 shares during the period. Hikari Power Ltd lifted its holdings in shares of Fortive by 34.7% during the 2nd quarter. Hikari Power Ltd now owns 141,700 shares of the technology company’s stock worth $8,977,000 after acquiring an additional 36,500 shares during the period. Synovus Financial Corp lifted its holdings in shares of Fortive by 23.9% during the 2nd quarter. Synovus Financial Corp now owns 29,587 shares of the technology company’s stock worth $1,872,000 after acquiring an additional 5,715 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in shares of Fortive by 24.5% during the 2nd quarter. Toronto Dominion Bank now owns 104,177 shares of the technology company’s stock worth $6,598,000 after acquiring an additional 20,519 shares during the period. 78.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Fortive Corporation (FTV) opened at $73.69 on Friday. The stock has a market cap of $25,580.34, a PE ratio of 26.67, a P/E/G ratio of 2.54 and a beta of 0.38. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06. Fortive Corporation has a 1 year low of $52.99 and a 1 year high of $75.69.
Fortive (NYSE:FTV) last announced its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. analysts expect that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, November 24th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, November 22nd. Fortive’s payout ratio is presently 10.57%.
FTV has been the subject of a number of analyst reports. SunTrust Banks reaffirmed a “buy” rating and set a $81.00 price objective on shares of Fortive in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Tuesday, September 26th. Royal Bank Of Canada reiterated a “hold” rating and set a $70.00 target price on shares of Fortive in a research report on Wednesday, October 11th. Citigroup increased their target price on shares of Fortive from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $70.27.
In other Fortive news, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total value of $3,657,000.00. Following the completion of the sale, the insider now owns 166,014 shares in the company, valued at approximately $12,142,263.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. Company insiders own 12.10% of the company’s stock.
Fortive 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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