Chevy Chase Trust Holdings Inc. reduced its position in shares of Fortive Corporation (NYSE:FTV) by 3.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 550,611 shares of the technology company’s stock after selling 16,764 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.16% of Fortive Corporation worth $34,882,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Crestwood Advisors Group LLC purchased a new stake in shares of Fortive Corporation during the first quarter worth $102,000. Jacobi Capital Management LLC boosted its stake 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 worth $104,000 after buying an additional 350 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake 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 worth $108,000 after buying an additional 300 shares during the last quarter. Quadrant Capital Group LLC boosted its stake 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 worth $112,000 after buying an additional 7 shares during the last quarter. Finally, First Personal Financial Services boosted its stake 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 worth $142,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 79.85% of the company’s stock.
Shares of Fortive Corporation (NYSE FTV) opened at 67.17 on Monday. Fortive Corporation has a 52 week low of $46.81 and a 52 week high of $67.20. The stock has a 50 day moving average price of $63.82 and a 200-day moving average price of $60.68. The company has a market capitalization of $23.31 billion, a PE ratio of 26.46 and a beta of 0.23.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts expect that Fortive Corporation will post $2.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be paid 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 dividend yield of 0.42%. Fortive Corporation’s dividend payout ratio is 11.02%.
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A number of equities analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $66.00 target price (up previously from $65.00) on shares of Fortive Corporation in a research report on Sunday, July 30th. Stifel Nicolaus reaffirmed 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 on the stock in a research report on Monday, July 24th. Finally, Barclays PLC set a $66.00 target price on shares of Fortive Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $61.82.
In other news, VP Emily A. Weaver sold 3,749 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total transaction of $233,450.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $725,413.02. Following the transaction, the vice president now directly owns 5,020 shares in the company, valued at approximately $312,796.20. The disclosure for this sale can be found here. Corporate insiders own 12.10% of the company’s stock.
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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