Bank of Montreal Can boosted its stake in shares of Fortive Corporation (NYSE:FTV) by 5.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 227,021 shares of the technology company’s stock after buying an additional 10,880 shares during the period. Bank of Montreal Can owned about 0.07% of Fortive Corporation worth $14,383,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in FTV. BlackRock Inc. boosted its position in shares of Fortive Corporation by 2,497.9% in the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock valued at $996,902,000 after buying an additional 15,917,140 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Fortive Corporation during the first quarter valued at about $115,464,000. Marshall Wace North America L.P. purchased a new position in shares of Fortive Corporation during the first quarter valued at about $115,464,000. Prudential Financial Inc. boosted its position in shares of Fortive Corporation by 109.8% in the first quarter. Prudential Financial Inc. now owns 2,160,610 shares of the technology company’s stock valued at $130,112,000 after buying an additional 1,130,600 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Fortive Corporation by 149.5% in the first quarter. William Blair Investment Management LLC now owns 1,880,734 shares of the technology company’s stock valued at $113,258,000 after buying an additional 1,126,991 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.
Fortive Corporation (NYSE:FTV) opened at 63.25 on Friday. The firm has a market capitalization of $21.92 billion and a PE ratio of 24.81. The stock’s 50 day moving average is $63.73 and its 200-day moving average is $60.07. Fortive Corporation has a 1-year low of $46.81 and a 1-year high of $65.21.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings results on Thursday, April 27th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Fortive Corporation had a return on equity of 34.24% and a net margin of 14.16%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Equities research analysts forecast that Fortive Corporation will post $2.75 EPS for the current year.
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Several equities analysts have issued reports on FTV shares. Morgan Stanley cut shares of Fortive Corporation from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $61.00 to $65.00 in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Wednesday, April 12th. J P Morgan Chase & Co raised shares of Fortive Corporation from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $56.00 to $66.00 in a research note on Friday, March 24th. Cowen and Company boosted their price objective on shares of Fortive Corporation from $46.00 to $52.00 and gave the company a “market perform” rating in a research note on Wednesday, April 19th. Finally, SunTrust Banks, Inc. raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Wednesday, March 29th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $59.92.
In other news, VP Emily A. Weaver sold 3,749 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total transaction of $233,450.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James A. Lico sold 131,994 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $62.34, for a total value of $8,228,505.96. Following the transaction, the insider now directly owns 191,101 shares in the company, valued at $11,913,236.34. The disclosure for this sale can be found here. Insiders have sold 147,385 shares of company stock worth $9,187,369 over the last three months.
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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