Gideon Capital Advisors Inc. purchased a new position in shares of Fortive Corp (NYSE:FTV) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,552 shares of the technology company’s stock, valued at approximately $215,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of FTV. FMR LLC grew its holdings in Fortive by 20.0% in the second quarter. FMR LLC now owns 23,755,263 shares of the technology company’s stock valued at $1,831,768,000 after purchasing an additional 3,960,523 shares during the period. Northern Trust Corp grew its holdings in Fortive by 1.1% in the second quarter. Northern Trust Corp now owns 4,355,498 shares of the technology company’s stock valued at $335,852,000 after purchasing an additional 47,476 shares during the period. Bessemer Group Inc. grew its holdings in Fortive by 0.7% in the third quarter. Bessemer Group Inc. now owns 3,935,895 shares of the technology company’s stock valued at $331,403,000 after purchasing an additional 26,209 shares during the period. Winslow Capital Management LLC grew its holdings in Fortive by 15.2% in the second quarter. Winslow Capital Management LLC now owns 2,970,792 shares of the technology company’s stock valued at $229,078,000 after purchasing an additional 391,138 shares during the period. Finally, Bank of America Corp DE grew its holdings in Fortive by 2.9% in the second quarter. Bank of America Corp DE now owns 2,913,140 shares of the technology company’s stock valued at $224,633,000 after purchasing an additional 83,258 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.
In other news, VP Emily A. Weaver sold 9,271 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $75.41, for a total transaction of $699,126.11. Following the transaction, the vice president now directly owns 9,279 shares of the company’s stock, valued at $699,729.39. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stacey A. Walker sold 468 shares of the business’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $75.26, for a total transaction of $35,221.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,382 shares of company stock worth $10,729,598. Corporate insiders own 12.10% of the company’s stock.
Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, October 25th. The technology company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). Fortive had a return on equity of 24.91% and a net margin of 15.72%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. On average, research analysts predict that Fortive Corp will post 3 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 30th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. Fortive’s payout ratio is currently 9.69%.
FTV has been the subject of several research reports. SunTrust Banks decreased their price objective on shares of Fortive from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Monday, October 1st. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, September 4th. Argus boosted their price objective on shares of Fortive to $94.00 and gave the stock a “buy” rating in a research note on Thursday, September 13th. They noted that the move was a valuation call. Finally, UBS Group boosted their price objective on shares of Fortive from $86.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $86.73.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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