Fortive Corporation (FTV) Shares Bought by South State Corp
South State Corp lifted its stake in shares of Fortive Corporation (NYSE:FTV) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,466 shares of the technology company’s stock after purchasing an additional 4,997 shares during the period. South State Corp’s holdings in Fortive Corporation were worth $8,103,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. BDO Wealth Advisors LLC acquired a new stake in Fortive Corporation during the second quarter worth about $128,000. Willingdon Wealth Management acquired a new stake in Fortive Corporation during the third quarter worth about $143,000. Westwood Holdings Group Inc. acquired a new stake in Fortive Corporation during the second quarter worth about $139,000. Sun Life Financial INC raised its stake in Fortive Corporation by 21,940.0% during the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,194 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of Fortive Corporation in the second quarter valued at approximately $147,000. 78.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fortive Corporation (NYSE:FTV) opened at $72.13 on Friday. The stock has a market cap of $25,024.25, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 2.49 and a beta of 0.37. Fortive Corporation has a 52 week low of $52.99 and a 52 week high of $74.38. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.95.
Fortive Corporation (NYSE:FTV) last released its quarterly 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. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.66 billion. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. Fortive Corporation’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. equities research analysts expect that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.
The company 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. The ex-dividend date is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a yield of 0.39%. Fortive Corporation’s dividend payout ratio (DPR) is presently 10.57%.
FTV has been the topic of several analyst reports. SunTrust Banks, Inc. restated a “buy” rating and issued a $81.00 price target on shares of Fortive Corporation in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Tuesday, September 19th. Morgan Stanley reiterated an “equal weight” rating and set a $72.00 price objective (up previously from $71.00) on shares of Fortive Corporation in a research note on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a report on Sunday, July 30th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $66.00 target price on shares of Fortive Corporation in a report on Friday, September 15th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Fortive Corporation has an average rating of “Buy” and a consensus price target of $70.27.
In other Fortive Corporation 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 SEC, which can be accessed through this link. Also, insider James A. Lico sold 50,000 shares of the firm’s 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 completion of the sale, the insider now owns 166,014 shares in the company, 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.
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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