Cypress Capital Group acquired a new stake in Fortive Corporation (NYSE:FTV) in the second quarter, according to its most recent filing with the SEC. The fund acquired 4,950 shares of the technology company’s stock, valued at approximately $314,000.
A number of other institutional investors have also added to or reduced their stakes in FTV. CENTRAL TRUST Co boosted its holdings in Fortive Corporation by 1.0% in the 2nd quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after purchasing an additional 23 shares during the period. Mirador Capital Partners LP boosted its holdings in Fortive Corporation by 0.4% in the 2nd quarter. Mirador Capital Partners LP now owns 6,013 shares of the technology company’s stock valued at $404,000 after purchasing an additional 26 shares during the period. Atria Investments LLC boosted its holdings in Fortive Corporation by 1.4% in the 2nd quarter. Atria Investments LLC now owns 4,570 shares of the technology company’s stock valued at $289,000 after purchasing an additional 61 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Fortive Corporation by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,402 shares of the technology company’s stock valued at $1,419,000 after purchasing an additional 72 shares during the period. Finally, TCI Wealth Advisors Inc. boosted its holdings in Fortive Corporation by 2.8% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,847 shares of the technology company’s stock valued at $180,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 78.59% of the company’s stock.
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Fortive Corporation (NYSE:FTV) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, August 25th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.28 annualized dividend and a yield of 0.39%. Fortive Corporation’s payout ratio is 11.02%.
Several brokerages have commented on FTV. Royal Bank Of Canada reissued a “hold” rating and issued a $70.00 price target on shares of Fortive Corporation in a report on Wednesday. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Monday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Stifel Nicolaus reissued a “hold” rating and issued a $62.00 price target on shares of Fortive Corporation in a report on Sunday, July 30th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $72.00 price target (up from $65.00) on shares of Fortive Corporation in a report 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. Fortive Corporation presently has a consensus rating of “Hold” and an average price target of $66.50.
In related news, CFO Charles E. Mclaughlin sold 6,565 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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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