Wetherby Asset Management Inc. lowered its position in Fortive Corporation (NYSE:FTV) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,189 shares of the technology company’s stock after selling 172 shares during the period. Wetherby Asset Management Inc.’s holdings in Fortive Corporation were worth $583,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Creative Planning increased its stake in shares of Fortive Corporation by 15.2% in the first quarter. Creative Planning now owns 7,316 shares of the technology company’s stock worth $441,000 after buying an additional 967 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of Fortive Corporation by 1.6% in the first quarter. Gulf International Bank UK Ltd now owns 94,305 shares of the technology company’s stock worth $5,679,000 after buying an additional 1,500 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Fortive Corporation by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock worth $112,000 after buying an additional 7 shares during the period. National Pension Service increased its stake in shares of Fortive Corporation by 37.1% in the first quarter. National Pension Service now owns 256,990 shares of the technology company’s stock worth $15,322,000 after buying an additional 69,592 shares during the period. Finally, Atria Investments LLC increased its stake in shares of Fortive Corporation by 1.6% in the first quarter. Atria Investments LLC now owns 4,509 shares of the technology company’s stock worth $272,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 79.85% of the company’s stock.
Shares of Fortive Corporation (NYSE FTV) opened at 65.60 on Friday. The company has a 50 day moving average of $64.42 and a 200 day moving average of $61.24. The firm has a market capitalization of $22.77 billion, a PE ratio of 25.84 and a beta of 0.23. Fortive Corporation has a 52-week low of $46.81 and a 52-week high of $67.48.
Fortive Corporation (NYSE:FTV) last issued its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, analysts anticipate that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.43%. Fortive Corporation’s dividend payout ratio is 11.02%.
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FTV has been the subject of a number of recent research reports. Cowen and Company lifted their price target on shares of Fortive Corporation from $46.00 to $52.00 and gave the stock a “market perform” rating in a report on Wednesday, April 19th. Barclays PLC set a $66.00 price target on shares of Fortive Corporation and gave the stock a “buy” rating in a report on Sunday, April 30th. Morgan Stanley downgraded shares of Fortive Corporation from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $61.00 to $65.00 in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Finally, Zacks Investment Research downgraded shares of Fortive Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $61.82.
In other news, VP Emily A. Weaver sold 3,749 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total value of $233,450.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Raj Ratnakar sold 11,642 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $62.31, for a total value of $725,413.02. Following the completion of the transaction, the vice president now owns 5,020 shares in the company, valued at approximately $312,796.20. The disclosure for this sale can be found here. 12.10% of the stock is owned by corporate insiders.
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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