Moreno Evelyn V lowered its stake in Fortive Corporation (NYSE:FTV) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,941 shares of the technology company’s stock after selling 862 shares during the period. Moreno Evelyn V’s holdings in Fortive Corporation were worth $1,833,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in Fortive Corporation by 2,497.9% in the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock valued at $996,902,000 after buying an additional 15,917,140 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in Fortive Corporation during the first quarter valued at about $115,464,000. Marshall Wace North America L.P. purchased a new position in Fortive Corporation during the first quarter valued at about $115,464,000. Prudential Financial Inc. boosted its position in Fortive Corporation by 109.8% in the first quarter. Prudential Financial Inc. now owns 2,160,610 shares of the technology company’s stock valued at $130,112,000 after buying an additional 1,130,600 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Fortive Corporation by 149.5% in the first quarter. William Blair Investment Management LLC now owns 1,880,734 shares of the technology company’s stock worth $113,258,000 after buying an additional 1,126,991 shares during the period. Institutional investors and hedge funds own 79.85% of the company’s stock.
Fortive Corporation (NYSE:FTV) traded up 0.11% during midday trading on Friday, hitting $65.60. 705,331 shares of the stock traded hands. The stock has a market cap of $22.77 billion, a PE ratio of 25.84 and a beta of 0.23. The company has a 50-day moving average of $64.42 and a 200-day moving average of $61.24. Fortive Corporation has a 1-year low of $46.81 and a 1-year high of $67.48.
Fortive Corporation (NYSE:FTV) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Fortive Corporation will post $2.79 EPS for the current fiscal year.
The business 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 0.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Fortive Corporation’s payout ratio is presently 11.02%.
A number of brokerages have issued reports on FTV. Stifel Nicolaus reaffirmed a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a report on Sunday, July 30th. Cowen and Company raised their price objective on shares of Fortive Corporation from $46.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 19th. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Finally, Barclays PLC set a $66.00 target price on shares of Fortive Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $61.82.
In related news, VP Raj Ratnakar sold 11,642 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total value of $725,413.02. Following the sale, the vice president now directly owns 5,020 shares in the company, valued at $312,796.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Emily A. Weaver sold 3,749 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. Corporate insiders own 12.10% of the company’s stock.
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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