Franklin Street Advisors Inc. NC grew its position in shares of Fortive Corp (NYSE:FTV) by 1.8% in the 1st quarter, HoldingsChannel reports. The fund owned 89,421 shares of the technology company’s stock after buying an additional 1,583 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Fortive were worth $7,502,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems purchased a new position in shares of Fortive during the fourth quarter valued at approximately $865,000. Resource Management LLC purchased a new position in shares of Fortive during the first quarter valued at approximately $201,000. Banyan Capital Management Inc. purchased a new position in shares of Fortive during the first quarter valued at approximately $1,197,000. Deutsche Bank AG boosted its position in shares of Fortive by 79.0% during the fourth quarter. Deutsche Bank AG now owns 827,194 shares of the technology company’s stock valued at $55,963,000 after buying an additional 365,059 shares during the last quarter. Finally, Vanguard Group Inc boosted its position in shares of Fortive by 0.9% during the third quarter. Vanguard Group Inc now owns 22,405,241 shares of the technology company’s stock valued at $1,890,330,000 after buying an additional 203,786 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.
FTV stock opened at $78.51 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.97 and a current ratio of 2.20. Fortive Corp has a 1-year low of $62.89 and a 1-year high of $89.48. The firm has a market capitalization of $26.20 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22.
Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.69 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.69. Fortive had a return on equity of 19.44% and a net margin of 39.98%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts predict that Fortive Corp will post 3.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a $0.07 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.28 annualized dividend and a yield of 0.36%. Fortive’s dividend payout ratio is currently 9.15%.
In other Fortive news, VP Emily A. Weaver sold 600 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $85.53, for a total value of $51,318.00. Following the transaction, the vice president now owns 9,796 shares of the company’s stock, valued at $837,851.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Martin Gafinowitz sold 20,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $81.74, for a total value of $1,634,800.00. Following the completion of the transaction, the insider now directly owns 91,688 shares in the company, valued at approximately $7,494,577.12. The disclosure for this sale can be found here. In the last three months, insiders sold 33,155 shares of company stock worth $2,761,762. Insiders own 12.70% of the company’s stock.
Several research analysts recently issued reports on the company. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Tuesday, May 7th. Argus reaffirmed a “buy” rating on shares of Fortive in a research report on Tuesday, April 30th. BMO Capital Markets lifted their target price on Fortive from $96.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. ValuEngine cut Fortive from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Finally, Cowen cut Fortive from a “market perform” rating to an “underperform” rating and cut their target price for the company from $75.00 to $65.00 in a research report on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $85.87.
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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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