Bainco International Investors raised its stake in shares of Fortive Corporation (NYSE:FTV) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,354 shares of the technology company’s stock after purchasing an additional 4,870 shares during the quarter. Bainco International Investors’ holdings in Fortive Corporation were worth $8,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in FTV. Jacobi Capital Management LLC lifted its position in Fortive Corporation by 25.5% during the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock valued at $104,000 after purchasing an additional 350 shares during the last quarter. BDO Wealth Advisors LLC bought a new stake in Fortive Corporation during the second quarter valued at approximately $128,000. Westwood Holdings Group Inc. bought a new stake in Fortive Corporation during the second quarter valued at approximately $139,000. Sun Life Financial INC lifted its position in Fortive Corporation by 21,940.0% during the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock valued at $140,000 after purchasing an additional 2,194 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its position in Fortive Corporation by 1.0% during the second 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 last quarter. Institutional investors and hedge funds own 78.85% of the company’s stock.
In other news, CFO Charles E. Mclaughlin sold 6,565 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $66.09, for a total transaction of $433,880.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.10% of the stock is currently owned by corporate insiders.
FTV has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Tuesday, September 26th. Royal Bank Of Canada reiterated a “hold” rating and set a $70.00 target price on shares of Fortive Corporation in a research report on Wednesday, October 11th. Citigroup Inc. reiterated a “neutral” rating and set a $72.00 target price (up from $65.00) on shares of Fortive Corporation in a research report on Monday, October 9th. Morgan Stanley reiterated an “equal weight” rating and set a $72.00 target price (up from $71.00) on shares of Fortive Corporation in a research report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a research report on Sunday, July 30th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $69.10.
Shares of Fortive Corporation (FTV) traded up 0.40% during midday trading on Wednesday, hitting $72.55. 108,852 shares of the stock were exchanged. The firm has a market cap of $25.18 billion, a PE ratio of 28.57 and a beta of 0.39. Fortive Corporation has a 52-week low of $49.73 and a 52-week high of $74.38. The firm’s 50-day moving average is $71.23 and its 200 day moving average is $65.72.
Fortive Corporation (NYSE:FTV) last posted its earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. Fortive Corporation had a return on equity of 31.67% and a net margin of 14.39%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 EPS. On average, analysts forecast that Fortive Corporation will post $2.84 earnings per share for the current year.
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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