Fortive Corporation (FTV) Position Raised by Pitcairn Co.
Pitcairn Co. increased its position in shares of Fortive Corporation (NYSE:FTV) by 1.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 42,792 shares of the technology company’s stock after buying an additional 695 shares during the period. Pitcairn Co.’s holdings in Fortive Corporation were worth $2,711,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its stake in shares of Fortive Corporation by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock worth $112,000 after buying an additional 7 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after buying an additional 23 shares in the last quarter. Advisor Partners LLC boosted its stake in shares of Fortive Corporation by 0.7% in the first quarter. Advisor Partners LLC now owns 7,150 shares of the technology company’s stock worth $431,000 after buying an additional 51 shares in the last quarter. Atria Investments LLC boosted its stake in shares of Fortive Corporation by 1.4% in the second quarter. Atria Investments LLC now owns 4,570 shares of the technology company’s stock worth $289,000 after buying an additional 61 shares in the last quarter. Finally, First Bank & Trust boosted its stake in shares of Fortive Corporation by 1.1% in the second quarter. First Bank & Trust now owns 7,907 shares of the technology company’s stock worth $501,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 79.85% of the company’s stock.
Shares of Fortive Corporation (FTV) opened at 65.60 on Friday. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $67.48. The firm has a 50-day moving average of $64.42 and a 200 day moving average of $61.24. The company has a market capitalization of $22.77 billion, a PE ratio of 25.84 and a beta of 0.23.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. 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 prior year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio (DPR) is presently 11.02%.
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A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Monday, July 24th. Barclays PLC set a $66.00 price objective on shares of Fortive Corporation and gave the company a “buy” rating in a research note on Sunday, April 30th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Morgan Stanley restated an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $66.00 price objective (up from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $61.82.
In other news, VP Raj Ratnakar sold 11,642 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total transaction of $725,413.02. Following the transaction, the vice president now owns 5,020 shares of the company’s stock, valued at $312,796.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Emily A. Weaver sold 3,749 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. Corporate insiders own 12.10% of the company’s stock.
About Fortive Corporation
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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