Liberty Capital Management Inc. grew its holdings in Fortive Corporation (NYSE:FTV) by 45.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,754 shares of the technology company’s stock after purchasing an additional 9,312 shares during the period. Liberty Capital Management Inc.’s holdings in Fortive Corporation were worth $2,142,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Fortive Corporation by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock valued at $1,305,909,000 after purchasing an additional 620,784 shares during the last quarter. BlackRock Inc. increased its stake in shares of Fortive Corporation by 11.7% in the 2nd quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock valued at $1,171,255,000 after purchasing an additional 1,934,309 shares during the last quarter. State Street Corp increased its stake in shares of Fortive Corporation by 1.4% in the 1st quarter. State Street Corp now owns 12,557,670 shares of the technology company’s stock valued at $756,215,000 after purchasing an additional 174,619 shares during the last quarter. Capital World Investors increased its stake in shares of Fortive Corporation by 37.9% in the 2nd quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock valued at $622,996,000 after purchasing an additional 2,701,496 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Fortive Corporation by 41.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock valued at $210,997,000 after purchasing an additional 971,997 shares during the last quarter. Institutional investors own 78.55% of the company’s stock.
In other news, CFO Charles E. Mclaughlin sold 6,565 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.10% of the company’s stock.
Several equities analysts have recently issued reports on FTV shares. Citigroup Inc. reiterated a “neutral” rating and issued a $72.00 price target (up previously from $65.00) on shares of Fortive Corporation in a research note on Monday, October 9th. Zacks Investment Research downgraded Fortive Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Royal Bank Of Canada reissued a “hold” rating and set a $70.00 price objective on shares of Fortive Corporation in a report on Wednesday, October 11th. Stifel Nicolaus reissued a “hold” rating and set a $62.00 price objective on shares of Fortive Corporation in a report on Sunday, July 30th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Fortive Corporation presently has a consensus rating of “Hold” and an average target price of $69.10.
Fortive Corporation (FTV) traded up 0.86% on Friday, hitting $74.10. The stock had a trading volume of 2,011,623 shares. Fortive Corporation has a 52-week low of $49.99 and a 52-week high of $74.38. The stock’s 50-day moving average is $70.93 and its 200-day moving average is $65.52. The company has a market cap of $25.72 billion, a P/E ratio of 29.18 and a beta of 0.39.
Fortive Corporation (NYSE:FTV) last posted its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.66 billion. Fortive Corporation had a net margin of 14.39% and a return on equity of 33.18%. Fortive Corporation’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. Analysts expect that Fortive Corporation will post $2.80 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, August 25th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. Fortive Corporation’s dividend payout ratio is currently 10.57%.
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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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