Hartford Investment Management Co. cut its position in Fortive Corporation (NYSE:FTV) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,588 shares of the technology company’s stock after selling 2,514 shares during the period. Hartford Investment Management Co.’s holdings in Fortive Corporation were worth $4,155,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. FMR LLC boosted its position in Fortive Corporation by 2.7% in the first quarter. FMR LLC now owns 21,506,167 shares of the technology company’s stock valued at $1,295,101,000 after buying an additional 574,042 shares during the period. Vanguard Group Inc. boosted its position in Fortive Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 19,993,417 shares of the technology company’s stock valued at $1,204,004,000 after buying an additional 646,463 shares during the period. BlackRock Inc. boosted its position 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 during the period. State Street Corp boosted its position 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 during the period. Finally, First Eagle Investment Management LLC boosted its position 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 during the period. 79.85% of the stock is currently owned by institutional investors.
Shares of Fortive Corporation (NYSE FTV) traded up 0.11% during trading on Friday, hitting $65.60. The stock had a trading volume of 705,331 shares. The stock 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 has a 12 month low of $46.81 and a 12 month high of $67.48.
Fortive Corporation (NYSE:FTV) last released its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. Fortive Corporation’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. Equities analysts expect that Fortive Corporation will post $2.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis 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 11.02%.
FTV has been the topic of several research analyst reports. Morgan Stanley cut shares of Fortive Corporation from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $61.00 to $65.00 in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Cowen and Company increased their price objective on Fortive Corporation from $46.00 to $52.00 and gave the company a “market perform” rating in a research note on Wednesday, April 19th. Zacks Investment Research lowered Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $62.00 price objective on shares of Fortive Corporation in a research note on Sunday, July 30th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $61.82.
In other news, VP Raj Ratnakar sold 11,642 shares of the business’s 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 completion of the sale, the vice president now directly owns 5,020 shares of the company’s stock, valued at approximately $312,796.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Emily A. Weaver sold 3,749 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. 12.10% of the stock is owned by insiders.
Fortive Corporation Company Profile
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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