Royal London Asset Management Ltd. boosted its stake in Fortive Corp (NYSE:FTV) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 309,851 shares of the technology company’s stock after purchasing an additional 15,825 shares during the period. Royal London Asset Management Ltd. owned about 0.09% of Fortive worth $25,268,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FTV. FNY Investment Advisers LLC acquired a new stake in Fortive in the first quarter valued at $25,000. Glassman Wealth Services grew its holdings in Fortive by 158.8% during the 1st quarter. Glassman Wealth Services now owns 308 shares of the technology company’s stock worth $26,000 after acquiring an additional 189 shares during the period. Baldwin Brothers Inc. MA acquired a new stake in Fortive during the 1st quarter worth about $29,000. Paragon Capital Management LLC acquired a new stake in Fortive during the 1st quarter worth about $34,000. Finally, Aspire Private Capital LLC grew its holdings in Fortive by 514.7% during the 1st quarter. Aspire Private Capital LLC now owns 418 shares of the technology company’s stock worth $35,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.
Shares of FTV traded up $1.55 during trading hours on Tuesday, hitting $70.60. The stock had a trading volume of 552,805 shares, compared to its average volume of 1,972,523. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $78.14. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 2.08 and a beta of 1.19. Fortive Corp has a 1-year low of $62.89 and a 1-year high of $89.48.
Fortive (NYSE:FTV) last issued its earnings results on Thursday, July 25th. The technology company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. On average, research analysts forecast that Fortive Corp will post 3.53 EPS for the current fiscal year.
A number of analysts have weighed in on the company. BMO Capital Markets increased their price target on Fortive from $96.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Cowen downgraded 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 report on Monday, June 3rd. Argus reiterated a “buy” rating on shares of Fortive in a report on Tuesday, April 30th. Raymond James set a $84.00 price target on Fortive and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Morgan Stanley downgraded Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price target for the company. in a report on Wednesday, May 8th. They noted that the move was a valuation call. One investment 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. Fortive has an average rating of “Hold” and a consensus target price of $85.87.
In other news, insider Martin Gafinowitz sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 91,688 shares in the company, valued at approximately $7,494,577.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Emily A. Weaver sold 519 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $80.98, for a total value of $42,028.62. Following the completion of the sale, the vice president now owns 8,627 shares of the company’s stock, valued at $698,614.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,965 shares of company stock valued at $4,112,161. 12.70% of the stock is currently owned by company insiders.
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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