First Western Capital Management Co Has $4.41 Million Position in Fortive Corporation (FTV)
First Western Capital Management Co lowered its holdings in Fortive Corporation (NYSE:FTV) by 1.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,332 shares of the technology company’s stock after selling 1,092 shares during the period. Fortive comprises 2.7% of First Western Capital Management Co’s portfolio, making the stock its 16th largest position. First Western Capital Management Co’s holdings in Fortive were worth $4,412,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Global X Management Co. LLC lifted its holdings in Fortive by 145.3% during the 2nd quarter. Global X Management Co. LLC now owns 9,926 shares of the technology company’s stock worth $629,000 after buying an additional 5,880 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Fortive by 10.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 989,776 shares of the technology company’s stock worth $62,703,000 after buying an additional 92,640 shares during the last quarter. Arizona State Retirement System lifted its holdings in Fortive by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 74,784 shares of the technology company’s stock worth $4,738,000 after buying an additional 300 shares during the last quarter. First Trust Advisors LP lifted its holdings in Fortive by 19.0% during the 2nd quarter. First Trust Advisors LP now owns 279,796 shares of the technology company’s stock worth $17,725,000 after buying an additional 44,685 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Fortive during the 2nd quarter worth approximately $7,762,000. 78.96% of the stock is owned by hedge funds and other institutional investors.
In related news, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total value of $3,657,000.00. Following the sale, the insider now directly owns 166,014 shares in the company, valued at approximately $12,142,263.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by corporate insiders.
Shares of Fortive Corporation (NYSE:FTV) traded down $0.68 during trading on Tuesday, hitting $73.01. The stock had a trading volume of 960,900 shares, compared to its average volume of 1,344,948. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54. The firm has a market cap of $25,611.63, a PE ratio of 26.70, a price-to-earnings-growth ratio of 2.54 and a beta of 0.38. Fortive Corporation has a fifty-two week low of $52.99 and a fifty-two week high of $75.69.
Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Fortive had a return on equity of 31.67% and a net margin of 14.39%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. research analysts forecast that Fortive Corporation will post 2.85 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 22nd. Fortive’s payout ratio is 10.57%.
FTV has been the topic of a number of research analyst reports. SunTrust Banks reaffirmed a “buy” rating and set a $81.00 target price on shares of Fortive in a report on Friday, October 27th. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Tuesday, September 26th. Royal Bank of Canada reaffirmed a “hold” rating and set a $70.00 target price on shares of Fortive in a report on Wednesday, October 11th. Citigroup increased their price target on 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 Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.27.
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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