Parnassus Investments CA cut its stake in Fortive Corporation (NYSE:FTV) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000,211 shares of the technology company’s stock after selling 10,000 shares during the quarter. Parnassus Investments CA owned approximately 0.29% of Fortive Corporation worth $70,805,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of FTV. Capital World Investors raised its position in shares of 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. Bessemer Group Inc. raised its position in shares of 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. BlackRock Inc. raised its position in shares of 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. JPMorgan Chase & Co. raised its position in shares of Fortive Corporation by 261.8% in the second quarter. JPMorgan Chase & Co. now owns 1,948,537 shares of the technology company’s stock valued at $123,442,000 after purchasing an additional 1,410,000 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in shares of 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. 79.02% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Fortive Corporation from $62.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Citigroup Inc. increased their price objective on shares of Fortive Corporation from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $81.00 price target on shares of Fortive Corporation in a research report on Friday, October 27th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $70.00 price target on shares of Fortive Corporation in a research report on Wednesday, October 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $72.00 price target (up from $71.00) on shares of Fortive Corporation in a research report on Monday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Fortive Corporation currently has a consensus rating of “Hold” and an average target price of $69.10.

Fortive Corporation (FTV) traded down $0.56 during trading hours on Monday, reaching $73.08. 212,692 shares of the company were exchanged, compared to its average volume of 1,206,866. The firm has a market capitalization of $25,594.25, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 2.55 and a beta of 0.37. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54.

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 the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. analysts anticipate that Fortive Corporation will post 2.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, November 22nd. Fortive Corporation’s dividend payout ratio (DPR) is presently 10.57%.

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In other news, SVP Stacey A. Walker sold 4,775 shares of the company’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,565 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The disclosure for this sale can be found here. 12.10% of the stock is owned by corporate insiders.

Fortive Corporation Company Profile

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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Institutional Ownership by Quarter for Fortive Corporation (NYSE:FTV)

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