Security National Bank of SO Dak increased its stake in Fortive Corporation (NYSE:FTV) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,093 shares of the technology company’s stock after buying an additional 205 shares during the period. Security National Bank of SO Dak’s holdings in Fortive Corporation were worth $639,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC raised its stake in Fortive Corporation by 25.5% in the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock worth $104,000 after buying an additional 350 shares in the last quarter. BDO Wealth Advisors LLC bought a new position in Fortive Corporation in the second quarter worth about $128,000. Sun Life Financial INC raised its stake in Fortive Corporation by 21,940.0% in the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after buying an additional 2,194 shares in the last quarter. CENTRAL TRUST Co raised its stake in Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after buying an additional 23 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in Fortive Corporation in the second quarter worth about $147,000. 78.59% of the stock is owned by institutional investors.
In other news, CFO Charles E. Mclaughlin sold 6,565 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 12.10% of the company’s stock.
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Fortive Corporation (NYSE:FTV) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The business 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 business posted $0.64 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts expect that Fortive Corporation will post $2.80 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, August 25th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. Fortive Corporation’s dividend payout ratio is currently 11.02%.
A number of equities analysts recently issued reports on FTV shares. Zacks Investment Research downgraded shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Royal Bank Of Canada reissued a “hold” rating and issued a $66.00 price target on shares of Fortive Corporation in a research note on Friday, September 15th. Stifel Nicolaus reissued a “hold” rating and issued a $62.00 price target on shares of Fortive Corporation in a research note on Sunday, July 30th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set 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 given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $66.10.
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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