Raymond James Trust N.A. Has $269,000 Stake in Fortive Corporation (FTV)
Raymond James Trust N.A. lowered its position in Fortive Corporation (NYSE:FTV) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,234 shares of the technology company’s stock after selling 109 shares during the period. Raymond James Trust N.A.’s holdings in Fortive Corporation were worth $269,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its holdings in Fortive Corporation by 2.7% during the first quarter. FMR LLC now owns 21,506,167 shares of the technology company’s stock worth $1,295,101,000 after buying an additional 574,042 shares during the last quarter. Vanguard Group Inc. increased its holdings in Fortive Corporation by 3.3% during the first quarter. Vanguard Group Inc. now owns 19,993,417 shares of the technology company’s stock worth $1,204,004,000 after buying an additional 646,463 shares during the last quarter. BlackRock Inc. increased its holdings in Fortive Corporation by 2,497.9% during the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock worth $996,902,000 after buying an additional 15,917,140 shares during the last quarter. State Street Corp increased its holdings in Fortive Corporation by 1.4% during the first quarter. State Street Corp now owns 12,557,670 shares of the technology company’s stock worth $756,215,000 after buying an additional 174,619 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Fortive Corporation by 25.5% during the first quarter. First Eagle Investment Management LLC now owns 4,718,316 shares of the technology company’s stock worth $284,137,000 after buying an additional 957,431 shares during the last quarter. Institutional investors own 78.59% of the company’s stock.
A number of research firms recently issued reports on FTV. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Tuesday. Royal Bank Of Canada restated a “hold” rating and set a $66.00 price objective on shares of Fortive Corporation in a report on Friday, September 15th. Stifel Nicolaus reiterated a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a research report on Sunday, July 30th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $62.45.
In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.10% of the company’s stock.
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Fortive Corporation (NYSE FTV) opened at 70.08 on Wednesday. The company has a market capitalization of $24.32 billion, a price-to-earnings ratio of 27.60 and a beta of 0.27. Fortive Corporation has a 52-week low of $46.81 and a 52-week high of $70.53. The stock has a 50 day moving average of $69.00 and a 200-day moving average of $69.00.
Fortive Corporation (NYSE:FTV) last released its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. On average, equities research analysts anticipate that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, August 25th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.40%. The ex-dividend date is Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio is 11.02%.
Fortive Corporation 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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