Fortive Corporation (FTV) Shares Sold by Columbia Partners L L C Investment Management
Columbia Partners L L C Investment Management decreased its position in Fortive Corporation (NYSE:FTV) by 15.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,818 shares of the technology company’s stock after selling 10,534 shares during the quarter. Columbia Partners L L C Investment Management’s holdings in Fortive Corporation were worth $3,951,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Fortive Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock valued at $1,305,909,000 after purchasing an additional 620,784 shares during the period. BlackRock Inc. raised its position in Fortive Corporation by 11.7% in the second quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock valued at $1,171,255,000 after purchasing an additional 1,934,309 shares during the period. Capital World Investors raised its position in Fortive Corporation by 37.9% in the second quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock valued at $622,996,000 after purchasing an additional 2,701,496 shares during the period. TIAA CREF Investment Management LLC raised its position in Fortive Corporation by 41.2% in the second quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock valued at $210,997,000 after purchasing an additional 971,997 shares during the period. Finally, Bessemer Group Inc. raised its position in Fortive Corporation by 64,460.2% in the second quarter. Bessemer Group Inc. now owns 2,640,512 shares of the technology company’s stock valued at $167,275,000 after purchasing an additional 2,636,422 shares during the period. 79.13% of the stock is currently owned by institutional investors.
In related news, SVP Stacey A. Walker sold 4,775 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James A. Lico sold 50,000 shares of the business’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 transaction, the insider now owns 166,014 shares of the company’s stock, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.
Fortive Corporation (FTV) traded down $0.19 during trading on Friday, hitting $72.25. The stock had a trading volume of 2,950,000 shares, compared to its average volume of 1,190,000. Fortive Corporation has a 1-year low of $52.99 and a 1-year high of $74.38. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $25,050.00 and a price-to-earnings ratio of 26.33.
Fortive Corporation (NYSE:FTV) last issued its earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $1.68 billion during 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%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 earnings per share. equities research analysts expect that Fortive Corporation will post 2.85 EPS for the current 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 paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. Fortive Corporation’s payout ratio is currently 10.57%.
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A number of brokerages have issued reports on FTV. Citigroup Inc. boosted their target price on Fortive Corporation from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Stifel Nicolaus upped their price objective on Fortive Corporation from $62.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $81.00 price objective on shares of Fortive Corporation in a research report on Friday, October 27th. BMO Capital Markets initiated coverage on Fortive Corporation in a research report on Wednesday. They set an “outperform” rating and a $82.00 price objective on the stock. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $70.00 price objective on shares of Fortive Corporation in a research report on Wednesday, October 11th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $70.27.
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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