Westpac Banking Corp increased its stake in shares of Fortive Corp (NYSE:FTV) by 321.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 84,842 shares of the technology company’s stock after acquiring an additional 64,693 shares during the quarter. Westpac Banking Corp’s holdings in Fortive were worth $6,138,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in FTV. Capital World Investors grew its holdings in Fortive by 37.9% during the second quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock worth $622,996,000 after buying an additional 2,701,496 shares in the last quarter. APG Asset Management N.V. grew its holdings in Fortive by 49.7% during the third quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock worth $154,483,000 after buying an additional 724,400 shares in the last quarter. Vanguard Group Inc. grew its holdings in Fortive by 3.1% during the second quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock worth $1,305,909,000 after buying an additional 620,784 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Fortive by 1,737.6% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 455,129 shares of the technology company’s stock worth $32,218,000 after buying an additional 430,362 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Fortive by 106.3% during the third quarter. Janus Henderson Group PLC now owns 821,560 shares of the technology company’s stock worth $58,157,000 after buying an additional 423,247 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.
In other news, SVP Stacey A. Walker sold 4,775 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James A. Lico sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total value of $3,657,000.00. Following the transaction, the insider now directly owns 166,014 shares in the company, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is owned by corporate insiders.
Fortive Corp (NYSE FTV) opened at $74.56 on Friday. The stock has a market capitalization of $25,914.00, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 2.29 and a beta of 0.44. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54. Fortive Corp has a 12 month low of $53.59 and a 12 month high of $75.69.
Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. Fortive had a return on equity of 31.67% and a net margin of 14.39%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. equities research analysts expect that Fortive Corp will post 2.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, November 24th were paid a $0.07 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. Fortive’s dividend payout ratio (DPR) is presently 10.57%.
Several brokerages recently issued reports on FTV. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Wednesday. Royal Bank of Canada reiterated a “hold” rating and set a $79.00 price target on shares of Fortive in a report on Thursday, January 4th. Argus upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. ValuEngine downgraded Fortive from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Finally, BMO Capital Markets began coverage on Fortive in a report on Wednesday, November 15th. They set an “outperform” rating and a $82.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Fortive has a consensus rating of “Hold” and an average price target of $72.70.
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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