Chesley Taft & Associates LLC increased its holdings in Fortive Corp (NYSE:FTV) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,961 shares of the technology company’s stock after acquiring an additional 1,390 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Fortive were worth $10,859,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in FTV. Parsons Capital Management Inc. RI lifted its stake in Fortive by 6.4% in the first quarter. Parsons Capital Management Inc. RI now owns 41,733 shares of the technology company’s stock worth $3,235,000 after acquiring an additional 2,493 shares during the period. Dimensional Fund Advisors LP lifted its position in Fortive by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 902,305 shares of the technology company’s stock valued at $69,947,000 after buying an additional 10,137 shares during the period. BB&T Securities LLC lifted its position in Fortive by 21.1% during the first quarter. BB&T Securities LLC now owns 17,408 shares of the technology company’s stock valued at $1,349,000 after buying an additional 3,028 shares during the period. A.R.T. Advisors LLC lifted its position in Fortive by 29.7% during the first quarter. A.R.T. Advisors LLC now owns 27,100 shares of the technology company’s stock valued at $2,100,000 after buying an additional 6,200 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Fortive by 4.8% during the first quarter. The Manufacturers Life Insurance Company now owns 1,101,594 shares of the technology company’s stock valued at $85,396,000 after buying an additional 50,392 shares during the period. 81.42% of the stock is owned by institutional investors.
In other news, insider William W. Pringle sold 440 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $79.38, for a total transaction of $34,927.20. Following the completion of the transaction, the insider now directly owns 20,626 shares in the company, valued at $1,637,291.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Barbara B. Hulit sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $82.29, for a total value of $1,234,350.00. Following the transaction, the insider now owns 51,113 shares of the company’s stock, valued at $4,206,088.77. The disclosure for this sale can be found here. Insiders have sold 74,602 shares of company stock valued at $6,047,572 over the last 90 days. Corporate insiders own 12.20% of the company’s stock.
Fortive stock traded up $0.68 on Friday, hitting $79.26. 224,564 shares of the stock traded hands, compared to its average volume of 3,093,615. The company has a current ratio of 1.96, a quick ratio of 1.68 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $29.40 billion, a P/E ratio of 27.30, a P/E/G ratio of 2.04 and a beta of 0.56. Fortive Corp has a 1 year low of $69.03 and a 1 year high of $88.34.
Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, July 26th. The technology company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. Fortive had a return on equity of 27.22% and a net margin of 16.38%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the firm posted $0.71 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts predict that Fortive Corp will post 3.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, August 31st were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.35%. Fortive’s payout ratio is presently 9.69%.
Several brokerages have commented on FTV. Gordon Haskett began coverage on Fortive in a research report on Friday. They set a “buy” rating for the company. Credit Suisse Group began coverage on Fortive in a research report on Friday. They set a “neutral” rating for the company. Morgan Stanley set a $90.00 price objective on Fortive and gave the company an “equal weight” rating in a research report on Tuesday, October 2nd. Zacks Investment Research lowered Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, July 12th. Finally, Citigroup raised their price objective on Fortive from $80.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $86.09.
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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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