State of Alaska Department of Revenue Has $4.16 Million Position in Fortive Corp (FTV)
State of Alaska Department of Revenue increased its holdings in Fortive Corp (NYSE:FTV) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,443 shares of the technology company’s stock after purchasing an additional 1,393 shares during the quarter. State of Alaska Department of Revenue’s holdings in Fortive were worth $4,155,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of FTV. Cornerstone Advisors Inc. grew its stake in shares of Fortive by 104.6% in the third quarter. Cornerstone Advisors Inc. now owns 309 shares of the technology company’s stock worth $26,000 after purchasing an additional 158 shares during the last quarter. Ancora Advisors LLC acquired a new position in Fortive in the third quarter valued at $108,000. Stratos Wealth Partners LTD. acquired a new position in Fortive in the third quarter valued at $127,000. Flagship Harbor Advisors LLC acquired a new position in Fortive in the second quarter valued at $132,000. Finally, Virginia National Bank acquired a new position in Fortive in the third quarter valued at $202,000. 81.30% of the stock is currently owned by institutional investors.
In other news, insider James A. Lico sold 123,298 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $75.41, for a total transaction of $9,297,902.18. Following the transaction, the insider now owns 357,460 shares in the company, valued at $26,956,058.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stacey A. Walker sold 468 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $75.26, for a total transaction of $35,221.68. The disclosure for this sale can be found here. Insiders have sold 142,382 shares of company stock worth $10,729,598 in the last quarter. Company insiders own 12.20% of the company’s stock.
FTV stock opened at $69.51 on Monday. The firm has a market capitalization of $23.12 billion, a P/E ratio of 24.05, a PEG ratio of 1.57 and a beta of 1.07. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54. Fortive Corp has a 12-month low of $62.89 and a 12-month high of $88.34.
Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, October 25th. The technology company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.02). Fortive had a net margin of 15.72% and a return on equity of 24.91%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. Equities analysts anticipate that Fortive Corp will post 3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Stockholders of record on Friday, November 30th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio is currently 9.69%.
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Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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