Meyer Handelman Co. maintained its stake in Fortive Corporation (NYSE:FTV) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 114,950 shares of the technology company’s stock at the end of the second quarter. Meyer Handelman Co.’s holdings in Fortive Corporation were worth $7,282,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Crestwood Advisors Group LLC acquired a new stake in Fortive Corporation during the first quarter valued at approximately $102,000. Jacobi Capital Management LLC boosted its position in shares of Fortive Corporation by 25.5% in the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock valued at $104,000 after buying an additional 350 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of Fortive Corporation by 20.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,800 shares of the technology company’s stock valued at $108,000 after buying an additional 300 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Fortive Corporation by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock valued at $112,000 after buying an additional 7 shares in the last quarter. Finally, First Personal Financial Services boosted its position in shares of Fortive Corporation by 17.3% in the first quarter. First Personal Financial Services now owns 2,372 shares of the technology company’s stock valued at $142,000 after buying an additional 350 shares in the last quarter. 79.18% of the stock is owned by institutional investors and hedge funds.
Shares of Fortive Corporation (FTV) traded up 1.63% on Wednesday, reaching $66.26. The company had a trading volume of 1,469,506 shares. Fortive Corporation has a 52-week low of $46.81 and a 52-week high of $66.54. The company has a 50 day moving average price of $63.82 and a 200 day moving average price of $60.68. The stock has a market capitalization of $23.00 billion, a PE ratio of 26.10 and a beta of 0.23.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the business earned $0.64 EPS. Fortive Corporation’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Fortive Corporation will post $2.76 earnings per share for the current year.
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Several equities analysts recently issued reports on the company. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Monday, July 24th. Barclays PLC set a $66.00 price target on Fortive Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a research report on Monday, May 22nd. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $66.00 price target (up previously from $65.00) on shares of Fortive Corporation in a research report on Sunday. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $61.00.
In other Fortive Corporation news, VP Raj Ratnakar sold 11,642 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $62.31, for a total value of $725,413.02. Following the completion of the sale, the vice president now owns 5,020 shares of the company’s stock, valued at approximately $312,796.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Emily A. Weaver sold 3,749 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total transaction of $233,450.23. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by corporate insiders.
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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