First Eagle Investment Management LLC cut its stake in shares of Fortive Corporation (NYSE:FTV) by 45.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,486,938 shares of the technology company’s stock after selling 1,224,453 shares during the period. First Eagle Investment Management LLC owned about 0.43% of Fortive Corporation worth $105,260,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Fortive Corporation by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock valued at $1,305,909,000 after acquiring an additional 620,784 shares during the period. BlackRock Inc. boosted its holdings in shares of Fortive Corporation by 11.7% during the 2nd quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock valued at $1,171,255,000 after purchasing an additional 1,934,309 shares during the last quarter. Capital World Investors boosted its holdings in shares of Fortive Corporation by 37.9% during the 2nd quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock valued at $622,996,000 after purchasing an additional 2,701,496 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Fortive Corporation by 41.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock valued at $210,997,000 after purchasing an additional 971,997 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Fortive Corporation by 64,460.2% during the 2nd quarter. Bessemer Group Inc. now owns 2,640,512 shares of the technology company’s stock valued at $167,275,000 after buying an additional 2,636,422 shares in the last quarter. Institutional investors and hedge funds own 79.13% of the company’s stock.
A number of research firms recently weighed in on FTV. Royal Bank Of Canada reissued a “hold” rating and issued a $70.00 price objective on shares of Fortive Corporation in a research report on Wednesday, October 11th. Citigroup Inc. restated a “neutral” rating and issued a $72.00 target price (up from $65.00) on shares of Fortive Corporation in a research note on Monday, October 9th. Zacks Investment Research cut shares of Fortive Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 25th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $81.00 price target on shares of Fortive Corporation in a report on Friday, October 27th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a report on Sunday, July 30th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $69.10.
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In other news, insider James A. Lico sold 50,000 shares of Fortive Corporation stock in a transaction that occurred on Tuesday, November 7th. The shares were 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 in the company, valued at $12,142,263.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacey A. Walker sold 4,775 shares of Fortive Corporation stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction 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 $0.05 during trading on Tuesday, reaching $72.60. 839,400 shares of the company’s stock were exchanged, compared to its average volume of 1,353,950. The stock has a market cap of $25,100.00 and a P/E ratio of 26.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.95. Fortive Corporation has a 52 week low of $52.99 and a 52 week high of $74.38.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. equities analysts anticipate that Fortive Corporation will post 2.85 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be given a $0.07 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. Fortive Corporation’s dividend payout ratio is presently 10.57%.
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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