Fortive Corporation (FTV) Holdings Raised by Carderock Capital Management Inc.
Carderock Capital Management Inc. boosted its position in shares of Fortive Corporation (NYSE:FTV) by 23.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,620 shares of the technology company’s stock after acquiring an additional 10,399 shares during the period. Fortive accounts for about 1.7% of Carderock Capital Management Inc.’s investment portfolio, making the stock its 25th largest position. Carderock Capital Management Inc.’s holdings in Fortive were worth $3,867,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTV. BDO Wealth Advisors LLC bought a new stake in Fortive during the 2nd quarter worth approximately $128,000. Westwood Holdings Group Inc. bought a new stake in shares of Fortive during the second quarter valued at approximately $139,000. Sun Life Financial INC raised its position in shares of Fortive by 21,940.0% during the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock valued at $140,000 after buying an additional 2,194 shares during the last quarter. Willingdon Wealth Management bought a new stake in shares of Fortive during the third quarter valued at approximately $143,000. Finally, Captrust Financial Advisors bought a new stake in shares of Fortive during the second quarter valued at approximately $147,000. Institutional investors own 78.96% of the company’s stock.
Fortive Corporation (FTV) opened at $73.69 on Monday. Fortive Corporation has a fifty-two week low of $52.99 and a fifty-two week high of $75.69. 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 price-to-earnings ratio of 26.70, a P/E/G ratio of 2.54 and a beta of 0.38.
Fortive (NYSE:FTV) last posted its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the firm posted $0.65 earnings per share. Fortive’s revenue for the quarter was up 7.4% compared to the same quarter last year. research analysts predict that Fortive Corporation will post 2.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be issued a $0.07 dividend. 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 dividend payout ratio (DPR) is presently 10.57%.
FTV has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Royal Bank Of Canada reiterated a “hold” rating and set a $66.00 price objective on shares of Fortive in a research report on Friday, September 15th. Morgan Stanley reiterated an “equal weight” rating and set a $72.00 price objective (up previously from $71.00) on shares of Fortive in a research report on Monday, October 2nd. Citigroup reiterated a “neutral” rating and set a $72.00 price objective (up previously from $65.00) on shares of Fortive in a research report on Monday, October 9th. Finally, Stifel Nicolaus lifted their price objective on shares of Fortive from $62.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $70.27.
In related news, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James A. Lico sold 50,000 shares of Fortive stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the transaction, the insider now directly owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The disclosure for this sale can be found here. Company insiders own 12.10% of the company’s stock.
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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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