Charles E. Mclaughlin Sells 6,565 Shares of Fortive Corporation (FTV) Stock
Fortive Corporation (NYSE:FTV) CFO Charles E. Mclaughlin sold 6,565 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Fortive Corporation (FTV) traded up 0.05% during midday trading on Wednesday, reaching $66.15. 645,224 shares of the company traded hands. The company’s 50-day moving average price is $64.62 and its 200 day moving average price is $61.52. The firm has a market capitalization of $22.96 billion, a PE ratio of 26.05 and a beta of 0.23. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $67.48.
Fortive Corporation (NYSE:FTV) last released its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities analysts anticipate that Fortive Corporation will post $2.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.42%. Fortive Corporation’s dividend payout ratio (DPR) is 11.02%.
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A number of equities research analysts have recently commented on the stock. Morgan Stanley reiterated an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 target price (up from $65.00) on shares of Fortive Corporation in a research report on Sunday, July 30th. Stifel Nicolaus reiterated a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a research report on Sunday, July 30th. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Monday, July 24th. Finally, Barclays PLC set a $66.00 target price on shares of Fortive Corporation and gave the company a “buy” rating in a research report on Sunday, April 30th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $61.82.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crestwood Advisors Group LLC purchased a new position in Fortive Corporation during the first quarter worth about $102,000. Jacobi Capital Management LLC raised its position in Fortive Corporation by 25.5% in the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock worth $104,000 after buying an additional 350 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in Fortive Corporation by 20.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,800 shares of the technology company’s stock worth $108,000 after buying an additional 300 shares during the period. BDO Wealth Advisors LLC purchased a new position in Fortive Corporation during the second quarter worth about $128,000. Finally, Westwood Holdings Group Inc. purchased a new position in Fortive Corporation during the second quarter worth about $139,000. Institutional investors own 78.55% of the company’s stock.
Fortive Corporation 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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