Fortive Corp (NYSE:FTV) SVP Patrick K. Murphy Sells 37,882 Shares
Fortive Corp (NYSE:FTV) SVP Patrick K. Murphy sold 37,882 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $72.50, for a total value of $2,746,445.00. Following the completion of the sale, the senior vice president now owns 38,841 shares of the company’s stock, valued at $2,815,972.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Fortive stock opened at $70.19 on Friday. The business has a 50-day moving average of $68.55 and a 200 day moving average of $65.94. Fortive Corp has a 12 month low of $37.31 and a 12 month high of $80.61. The stock has a market capitalization of $24.32 billion, a price-to-earnings ratio of 47.43, a price-to-earnings-growth ratio of 4.59 and a beta of 1.24. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.13 and a quick ratio of 1.32.
Fortive (NYSE:FTV) last announced its earnings results on Tuesday, July 28th. The technology company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Fortive had a return on equity of 16.22% and a net margin of 8.00%. Fortive’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. Equities research analysts anticipate that Fortive Corp will post 2.93 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the business. Comerica Bank raised its position in Fortive by 18.3% in the 2nd quarter. Comerica Bank now owns 94,704 shares of the technology company’s stock valued at $6,774,000 after purchasing an additional 14,625 shares in the last quarter. Valmark Advisers Inc. acquired a new stake in Fortive in the 2nd quarter valued at about $204,000. Ballentine Partners LLC raised its position in Fortive by 28.7% in the 2nd quarter. Ballentine Partners LLC now owns 5,789 shares of the technology company’s stock valued at $392,000 after purchasing an additional 1,291 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Fortive in the 2nd quarter valued at about $271,000. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in Fortive by 13.4% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 10,911 shares of the technology company’s stock valued at $739,000 after purchasing an additional 1,288 shares in the last quarter. 82.54% of the stock is currently owned by institutional investors.
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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