First Republic Investment Management Inc. raised its position in Fortive Corp (NYSE:FTV) by 3.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 248,947 shares of the technology company’s stock after buying an additional 8,344 shares during the period. First Republic Investment Management Inc. owned about 0.07% of Fortive worth $20,962,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in FTV. FMR LLC boosted its position in Fortive by 20.0% in the 2nd quarter. FMR LLC now owns 23,755,263 shares of the technology company’s stock valued at $1,831,768,000 after buying an additional 3,960,523 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Fortive in the 2nd quarter valued at $185,524,000. Findlay Park Partners LLP bought a new position in Fortive in the 2nd quarter valued at $69,399,000. Jennison Associates LLC bought a new position in Fortive in the 2nd quarter valued at $48,009,000. Finally, Victory Capital Management Inc. boosted its position in Fortive by 1,057.2% in the 2nd quarter. Victory Capital Management Inc. now owns 616,084 shares of the technology company’s stock valued at $47,506,000 after buying an additional 562,847 shares during the last quarter.
A number of research analysts have commented on FTV shares. Argus increased their price objective on Fortive from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 14th. UBS Group increased their price objective on Fortive from $86.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, September 4th. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Monday, October 1st. Finally, Morgan Stanley set a $90.00 price target on Fortive and gave the company an “equal weight” rating in a research note on Tuesday, October 2nd. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $86.73.
Shares of Fortive stock opened at $69.94 on Friday. The firm has a market cap of $24.09 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. Fortive Corp has a 12 month low of $69.03 and a 12 month high of $88.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 0.98.
Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, October 25th. The technology company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. Fortive had a return on equity of 24.91% and a net margin of 15.72%. On average, analysts expect that Fortive Corp will post 3 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 30th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.40%. The ex-dividend date is Thursday, November 29th. Fortive’s payout ratio is presently 9.69%.
In other Fortive news, insider William W. Pringle sold 476 shares of the stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $73.18, for a total transaction of $34,833.68. Following the completion of the transaction, the insider now owns 28,639 shares in the company, valued at approximately $2,095,802.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Stacey A. Walker sold 468 shares of the stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $75.26, for a total value of $35,221.68. The disclosure for this sale can be found here. Insiders have sold a total of 142,382 shares of company stock worth $10,729,598 in the last ninety days. 12.10% of the stock is currently owned by company insiders.
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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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