Natixis bought a new position in Fortive Corp (NYSE:FTV) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 38,936 shares of the technology company’s stock, valued at approximately $3,174,000.
Other large investors have also recently added to or reduced their stakes in the company. Glassman Wealth Services lifted its position in Fortive by 158.8% in the 1st quarter. Glassman Wealth Services now owns 308 shares of the technology company’s stock worth $26,000 after buying an additional 189 shares during the last quarter. Rational Advisors LLC purchased a new position in Fortive in the 2nd quarter worth approximately $33,000. Aspire Private Capital LLC increased its stake in Fortive by 514.7% in the 1st quarter. Aspire Private Capital LLC now owns 418 shares of the technology company’s stock worth $35,000 after purchasing an additional 350 shares during the period. Kavar Capital Partners LLC purchased a new position in Fortive in the 2nd quarter worth approximately $37,000. Finally, Bremer Bank National Association purchased a new position in Fortive in the 1st quarter worth approximately $53,000. Institutional investors own 82.64% of the company’s stock.
FTV has been the topic of a number of analyst reports. Barclays decreased their price target on Fortive from $89.00 to $84.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Credit Suisse Group reaffirmed a “hold” rating and issued a $76.00 price target on shares of Fortive in a research note on Tuesday. Cowen cut Fortive from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $75.00 to $65.00 in a research note on Monday, June 3rd. Bank of America decreased their price target on Fortive from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, Gordon Haskett cut Fortive from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $82.87.
In other news, SVP Stacey A. Walker sold 34,446 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the transaction, the senior vice president now directly owns 20,015 shares of the company’s stock, valued at $1,415,060.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.70% of the stock is currently owned by insiders.
Shares of FTV traded up $0.23 during mid-day trading on Friday, hitting $70.21. 66,141 shares of the company’s stock traded hands, compared to its average volume of 2,120,031. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.76. 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 $23.51 billion, a P/E ratio of 22.95, a PEG ratio of 2.62 and a beta of 1.22. The business’s 50-day moving average price is $71.23 and its 200-day moving average price is $79.36.
Fortive (NYSE:FTV) last posted its earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. Sell-side analysts anticipate that Fortive Corp will post 3.5 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 9.15%.
Fortive Company Profile
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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