Security National Bank of Sioux City Iowa IA decreased its holdings in shares of Fortive Corporation (NYSE:FTV) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,654 shares of the technology company’s stock after selling 72 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in Fortive Corporation were worth $738,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Scotia Capital Inc. purchased a new position in shares of Fortive Corporation during the second quarter valued at $212,000. Nomura Holdings Inc. purchased a new position in shares of Fortive Corporation during the second quarter valued at $1,443,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Fortive Corporation by 4.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,956 shares of the technology company’s stock valued at $1,454,000 after buying an additional 909 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Fortive Corporation by 23.5% during the second quarter. Coldstream Capital Management Inc. now owns 5,038 shares of the technology company’s stock valued at $319,000 after buying an additional 958 shares in the last quarter. Finally, Argent Capital Management LLC grew its holdings in shares of Fortive Corporation by 32.9% during the second quarter. Argent Capital Management LLC now owns 1,053,797 shares of the technology company’s stock valued at $66,758,000 after buying an additional 260,795 shares in the last quarter. Institutional investors and hedge funds own 78.59% of the company’s stock.
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Fortive Corporation (NYSE:FTV) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the business posted $0.64 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that Fortive Corporation will post $2.80 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, August 25th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio is 11.02%.
In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of Fortive Corporation stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 12.10% of the company’s stock.
A number of research analysts have recently weighed in on FTV shares. Morgan Stanley reiterated an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Zacks Investment Research upgraded Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Monday, July 24th. Stifel Nicolaus restated a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a research note on Sunday, July 30th. Royal Bank Of Canada restated a “sector perform” rating and issued a $66.00 target price (up previously from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $72.00 target price (up previously from $65.00) on shares of Fortive Corporation in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $66.10.
Fortive Corporation 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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