Livingston Group Asset Management CO operating as Southport Capital Management decreased its position in shares of Fortive Corporation (NYSE:FTV) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,559 shares of the technology company’s stock after selling 54 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Fortive Corporation were worth $732,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FTV. Headinvest LLC increased its position in Fortive Corporation by 3.4% in the second quarter. Headinvest LLC now owns 39,606 shares of the technology company’s stock worth $2,509,000 after buying an additional 1,311 shares in the last quarter. Watch Point Trust Co increased its position in Fortive Corporation by 3.9% in the second quarter. Watch Point Trust Co now owns 5,800 shares of the technology company’s stock worth $368,000 after buying an additional 216 shares in the last quarter. Winslow Evans & Crocker Inc. increased its position in Fortive Corporation by 3.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 3,871 shares of the technology company’s stock worth $245,000 after buying an additional 133 shares in the last quarter. CENTRAL TRUST Co increased its position in Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after buying an additional 23 shares in the last quarter. Finally, OLD National Bancorp IN increased its position in Fortive Corporation by 9.7% in the second quarter. OLD National Bancorp IN now owns 188,920 shares of the technology company’s stock worth $11,968,000 after buying an additional 16,780 shares in the last quarter. 79.18% of the stock is owned by hedge funds and other institutional investors.
Fortive Corporation (FTV) opened at 67.17 on Friday. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $67.20. The company has a market capitalization of $23.31 billion, a P/E ratio of 26.46 and a beta of 0.23. The company has a 50-day moving average of $63.82 and a 200 day moving average of $60.68.
Fortive Corporation (NYSE:FTV) last announced its 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 during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.42%. Fortive Corporation’s dividend payout ratio is currently 11.02%.
A number of research firms have recently weighed in on FTV. Royal Bank Of Canada reissued a “sector perform” rating and set a $66.00 target price (up from $65.00) on shares of Fortive Corporation in a research report on Sunday, July 30th. Stifel Nicolaus reissued a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a research report on Sunday, July 30th. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Monday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a research report on Monday, May 22nd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Fortive Corporation currently has an average rating of “Hold” and an average price target of $61.82.
In other Fortive Corporation news, VP Raj Ratnakar sold 11,642 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $62.31, for a total transaction of $725,413.02. Following the completion of the sale, the vice president now directly owns 5,020 shares of the company’s stock, valued at $312,796.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Emily A. Weaver sold 3,749 shares of the company’s stock in a transaction that occurred on 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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