Fortive Corp (FTV) Stake Boosted by Hikari Power Ltd
Hikari Power Ltd increased its position in Fortive Corp (NYSE:FTV) by 34.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,700 shares of the technology company’s stock after buying an additional 36,500 shares during the period. Fortive Corp accounts for approximately 1.2% of Hikari Power Ltd’s portfolio, making the stock its 22nd largest position. Hikari Power Ltd’s holdings in Fortive Corp were worth $8,977,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. FMR LLC increased its position in Fortive Corp by 2.7% in the first quarter. FMR LLC now owns 21,506,167 shares of the technology company’s stock worth $1,295,101,000 after buying an additional 574,042 shares in the last quarter. Vanguard Group Inc. increased its position in Fortive Corp by 3.3% in the first quarter. Vanguard Group Inc. now owns 19,993,417 shares of the technology company’s stock worth $1,204,004,000 after buying an additional 646,463 shares in the last quarter. BlackRock Inc. increased its position in Fortive Corp by 2,497.9% in the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock worth $996,902,000 after buying an additional 15,917,140 shares in the last quarter. State Street Corp increased its position in Fortive Corp by 1.4% in the first quarter. State Street Corp now owns 12,557,670 shares of the technology company’s stock worth $756,215,000 after buying an additional 174,619 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in Fortive Corp by 25.5% in the first quarter. First Eagle Investment Management LLC now owns 4,718,316 shares of the technology company’s stock worth $284,137,000 after buying an additional 957,431 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.
Shares of Fortive Corp (NYSE:FTV) opened at 64.97 on Friday. Fortive Corp has a 12-month low of $46.81 and a 12-month high of $67.48. The company’s 50-day moving average is $64.96 and its 200-day moving average is $62.19. The firm has a market capitalization of $22.55 billion, a price-to-earnings ratio of 25.59 and a beta of 0.23.
Fortive Corp (NYSE:FTV) last announced its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. Fortive Corp had a net margin of 14.74% and a return on equity of 31.79%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Fortive Corp’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that Fortive Corp will post $2.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, August 25th will be given a dividend of $0.07 per share. 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 Corp’s dividend payout ratio (DPR) is currently 11.02%.
FTV has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Fortive Corp from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Monday, July 24th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $66.00 price objective (up previously from $65.00) on shares of Fortive Corp in a research report on Sunday, July 30th. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corp in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corp in a research report on Monday, May 22nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $62.00 price objective on shares of Fortive Corp in a research report on Sunday, July 30th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.82.
In related news, CFO Charles E. Mclaughlin sold 6,565 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.10% of the company’s stock.
Fortive Corp 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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