Atria Investments LLC boosted its position in Fortive Corporation (NYSE:FTV) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,570 shares of the technology company’s stock after buying an additional 61 shares during the period. Atria Investments LLC’s holdings in Fortive Corporation were worth $289,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Fortive Corporation by 2.7% in the first quarter. FMR LLC now owns 21,506,167 shares of the technology company’s stock worth $1,295,101,000 after buying an additional 574,042 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Fortive Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 19,993,417 shares of the technology company’s stock worth $1,204,004,000 after buying an additional 646,463 shares during the last quarter. BlackRock Inc. boosted its stake in Fortive Corporation by 2,497.9% in the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock valued at $996,902,000 after buying an additional 15,917,140 shares in the last quarter. State Street Corp boosted its stake in Fortive Corporation by 1.4% in the first quarter. State Street Corp now owns 12,557,670 shares of the technology company’s stock valued at $756,215,000 after buying an additional 174,619 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Fortive Corporation by 25.5% in the first quarter. First Eagle Investment Management LLC now owns 4,718,316 shares of the technology company’s stock valued at $284,137,000 after buying an additional 957,431 shares in the last quarter. Hedge funds and other institutional investors own 79.85% of the company’s stock.
Fortive Corporation (NYSE:FTV) traded up 0.11% on Friday, reaching $65.60. The company’s stock had a trading volume of 705,331 shares. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $67.48. The company has a 50-day moving average price of $64.38 and a 200 day moving average price of $61.16. The company has a market cap of $22.77 billion, a P/E ratio of 25.84 and a beta of 0.23.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Fortive Corporation will post $2.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio (DPR) is currently 11.02%.
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Several equities research analysts have recently weighed in on FTV shares. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Monday, July 24th. Barclays PLC set a $66.00 price objective on Fortive Corporation and gave the company a “buy” rating in a research report on Sunday, April 30th. Morgan Stanley cut Fortive Corporation from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $61.00 to $65.00 in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Fortive Corporation in a research report on Monday, May 22nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a research report on Sunday, July 30th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $61.82.
In other Fortive Corporation news, VP Emily A. Weaver sold 3,749 shares of Fortive Corporation stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total transaction of $233,450.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Raj Ratnakar sold 11,642 shares of Fortive Corporation stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total value of $725,413.02. Following the sale, the vice president now directly owns 5,020 shares of the company’s stock, valued at approximately $312,796.20. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.
About Fortive Corporation
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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