Capital Investment Services of America Inc. raised its position in Fortive Corp (NYSE:FTV) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,268 shares of the technology company’s stock after buying an additional 12,203 shares during the quarter. Fortive comprises about 2.0% of Capital Investment Services of America Inc.’s portfolio, making the stock its 28th largest position. Capital Investment Services of America Inc. owned about 0.06% of Fortive worth $13,730,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in FTV. Rational Advisors LLC bought a new stake in shares of Fortive during the 2nd quarter valued at approximately $33,000. Kavar Capital Partners LLC acquired a new stake in Fortive during the 2nd quarter worth approximately $37,000. Compagnie Lombard Odier SCmA acquired a new stake in Fortive during the 2nd quarter worth approximately $41,000. Kings Point Capital Management acquired a new stake in Fortive during the 2nd quarter worth approximately $41,000. Finally, CSat Investment Advisory L.P. boosted its position in Fortive by 342.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 673 shares of the technology company’s stock worth $55,000 after buying an additional 521 shares during the period. 82.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE FTV traded up $2.52 during midday trading on Friday, reaching $67.95. The stock had a trading volume of 3,217,073 shares, compared to its average volume of 1,693,545. The firm has a market cap of $21.55 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21. Fortive Corp has a twelve month low of $62.89 and a twelve month high of $89.48. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 1.23. The company’s 50 day moving average price is $68.34 and its 200 day moving average price is $77.33.
Fortive (NYSE:FTV) last released its earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.01. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the company earned $0.91 EPS. Fortive’s quarterly revenue was up 16.4% compared to the same quarter last year. Equities analysts forecast that Fortive Corp will post 3.5 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.41%. Fortive’s payout ratio is presently 9.15%.
In related news, SVP Stacey A. Walker sold 34,446 shares of the business’s stock in a transaction on Monday, August 5th. The shares were 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 owns 20,015 shares in the company, valued at approximately $1,415,060.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.70% of the stock is owned by insiders.
FTV has been the topic of several recent research reports. Credit Suisse Group reiterated a “hold” rating and set a $76.00 target price on shares of Fortive in a research report on Tuesday, September 10th. Barclays dropped their price target on shares of Fortive from $89.00 to $84.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Zacks Investment Research upgraded shares of Fortive from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research report on Tuesday, October 1st. Bank of America dropped their price target on shares of Fortive from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, Raymond James set a $84.00 price target on shares of Fortive and gave the stock an “outperform” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $79.55.
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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