Insider Selling: Fortive Corporation (FTV) CFO Sells 6,565 Shares of Stock
Fortive Corporation (NYSE:FTV) CFO Charles E. Mclaughlin sold 6,565 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Fortive Corporation (NYSE:FTV) traded up 0.05% during trading on Wednesday, reaching $66.15. The company had a trading volume of 645,224 shares. The firm has a market capitalization of $22.96 billion, a PE ratio of 26.05 and a beta of 0.23. The stock has a 50 day moving average price of $64.62 and a 200 day moving average price of $61.52. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $67.48.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. On average, equities research analysts forecast that Fortive Corporation will post $2.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Wednesday, August 23rd. Fortive Corporation’s payout ratio is presently 11.02%.
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Several hedge funds have recently made changes to their positions in FTV. Hutchens Investment Management Inc raised its stake in shares of Fortive Corporation by 132.6% in the first quarter. Hutchens Investment Management Inc now owns 30,397 shares of the technology company’s stock valued at $1,830,000 after buying an additional 17,331 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Fortive Corporation by 93.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,600 shares of the technology company’s stock valued at $3,050,000 after buying an additional 24,500 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Fortive Corporation by 76.2% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 60,850 shares of the technology company’s stock valued at $3,664,000 after buying an additional 26,311 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Fortive Corporation by 2.3% in the first quarter. Nationwide Fund Advisors now owns 275,908 shares of the technology company’s stock valued at $16,615,000 after buying an additional 6,319 shares during the last quarter. Finally, Ledyard National Bank raised its stake in shares of Fortive Corporation by 14.0% in the second quarter. Ledyard National Bank now owns 2,706 shares of the technology company’s stock valued at $171,000 after buying an additional 333 shares during the last quarter. 78.55% of the stock is currently owned by institutional investors.
Several research firms have recently commented on FTV. Barclays PLC set a $66.00 target price on Fortive Corporation and gave the company a “buy” rating in a research note on Sunday, April 30th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 target price (up from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th. Zacks Investment Research upgraded Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a research note on Sunday, July 30th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Fortive Corporation has a consensus rating of “Hold” and a consensus target price of $61.82.
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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