Mandatum Life Insurance Co Ltd Invests $221,000 in Fortive Corporation (FTV)
Mandatum Life Insurance Co Ltd bought a new stake in Fortive Corporation (NYSE:FTV) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,115 shares of the technology company’s stock, valued at approximately $221,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BDO Wealth Advisors LLC acquired a new position in Fortive Corporation during the second quarter worth $128,000. Westwood Holdings Group Inc. acquired a new position in Fortive Corporation during the second quarter worth $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 in the last quarter. Willingdon Wealth Management acquired a new position in Fortive Corporation during the third quarter worth $143,000. Finally, Captrust Financial Advisors acquired a new position in Fortive Corporation during the second quarter worth $147,000. Institutional investors and hedge funds own 78.35% of the company’s stock.
In other news, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total value of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.
Shares of Fortive Corporation (NYSE:FTV) traded down $0.45 during mid-day trading on Thursday, hitting $72.00. The stock had a trading volume of 1,932,800 shares, compared to its average volume of 1,360,455. 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 company has a market capitalization of $25,180.65, a PE ratio of 26.25, a PEG ratio of 2.51 and a beta of 0.37. Fortive Corporation has a 12 month low of $52.99 and a 12 month high of $74.38.
Fortive Corporation (NYSE:FTV) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Fortive Corporation had a return on equity of 31.67% and a net margin of 14.39%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 earnings per share. equities research analysts forecast that Fortive Corporation will post 2.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive Corporation’s dividend payout ratio (DPR) is currently 10.57%.
FTV has been the subject of several recent analyst reports. Stifel Nicolaus reiterated a “hold” rating and set a $62.00 price objective on shares of Fortive Corporation in a research note on Sunday, July 30th. Royal Bank Of Canada reiterated 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. Zacks Investment Research cut Fortive Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Morgan Stanley restated an “equal weight” rating and set a $72.00 target price (up previously from $71.00) on shares of Fortive Corporation in a report on Monday, October 2nd. Finally, Citigroup Inc. restated a “neutral” rating and set a $72.00 target price (up previously from $65.00) on shares of Fortive Corporation in a report on Monday, October 9th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $70.27.
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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