Capital Bank & Trust Co lowered its position in shares of Fortive Corporation (NYSE:FTV) by 33.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,219 shares of the technology company’s stock after selling 1,120 shares during the period. Capital Bank & Trust Co’s holdings in Fortive were worth $157,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. APG Asset Management N.V. raised its holdings in Fortive by 49.7% in the 3rd quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock worth $154,483,000 after purchasing an additional 724,400 shares in the last quarter. Swiss National Bank raised its holdings in Fortive by 3.2% in the 2nd quarter. Swiss National Bank now owns 1,137,872 shares of the technology company’s stock worth $72,084,000 after purchasing an additional 35,300 shares in the last quarter. Hikari Power Ltd raised its holdings in Fortive by 34.7% in the 2nd quarter. Hikari Power Ltd now owns 141,700 shares of the technology company’s stock worth $8,977,000 after purchasing an additional 36,500 shares in the last quarter. Synovus Financial Corp raised its holdings in Fortive by 23.9% in the 2nd quarter. Synovus Financial Corp now owns 29,587 shares of the technology company’s stock worth $1,872,000 after purchasing an additional 5,715 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in Fortive by 24.5% in the 2nd quarter. Toronto Dominion Bank now owns 104,177 shares of the technology company’s stock worth $6,598,000 after purchasing an additional 20,519 shares in the last quarter. 78.96% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Morgan Stanley restated an “equal weight” rating and issued a $72.00 price objective (up from $71.00) on shares of Fortive in a report on Monday, October 2nd. Citigroup upped their price objective on shares of Fortive from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Stifel Nicolaus upped their price objective on shares of Fortive from $62.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Finally, ValuEngine lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.27.
Shares of Fortive Corporation (NYSE FTV) traded down $0.68 during trading on Tuesday, hitting $73.01. 960,900 shares of the company traded hands, compared to its average volume of 1,344,948. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.95. The company has a market cap of $25,611.63, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 2.54 and a beta of 0.38. Fortive Corporation has a 52 week low of $52.99 and a 52 week high of $75.69.
Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.66 billion. Fortive had a net margin of 14.39% and a return on equity of 31.67%. Fortive’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. equities analysts anticipate that Fortive Corporation will post 2.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.38%. Fortive’s payout ratio is 10.57%.
In related news, SVP Stacey A. Walker sold 4,775 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James A. Lico sold 50,000 shares of the 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 completion of the transaction, the insider now owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is owned by company insiders.
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Fortive 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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