Mcrae Capital Management Inc. Has $587,000 Position in Fortive Corporation (NYSE:FTV)

Mcrae Capital Management Inc. continued to hold its position in shares of Fortive Corporation (NYSE:FTV) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,262 shares of the technology company’s stock at the end of the second quarter. Mcrae Capital Management Inc.’s holdings in Fortive Corporation were worth $587,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in Fortive Corporation by 2.7% in the first quarter. FMR LLC now owns 21,506,167 shares of the technology company’s stock valued at $1,295,101,000 after buying an additional 574,042 shares in the last quarter. Vanguard Group Inc. boosted its stake in Fortive Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 19,993,417 shares of the technology company’s stock valued at $1,204,004,000 after buying an additional 646,463 shares in the last quarter. BlackRock Inc. boosted its stake in 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. State Street Corp boosted its stake in Fortive Corporation by 1.4% in the first quarter. State Street Corp now owns 12,557,670 shares of the technology company’s stock valued at $756,215,000 after buying an additional 174,619 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Fortive Corporation by 25.5% in the first quarter. First Eagle Investment Management LLC now owns 4,718,316 shares of the technology company’s stock valued at $284,137,000 after buying an additional 957,431 shares in the last quarter. 79.85% of the stock is owned by institutional investors.

Shares of Fortive Corporation (FTV) traded up 0.11% on Friday, reaching $65.60. 705,331 shares of the company were exchanged. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $67.48. The firm has a market capitalization of $22.77 billion, a PE ratio of 25.84 and a beta of 0.23. The company’s 50 day moving average is $64.42 and its 200 day moving average is $61.24.

Fortive Corporation (NYSE:FTV) last released its earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Fortive Corporation will post $2.79 earnings per share for the current year.

The business also recently disclosed 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. This represents a $0.28 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio (DPR) is currently 11.02%.

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Several equities research analysts recently commented 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 issued a $66.00 price objective (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 price target 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 price target on the stock in a research report on Monday, July 24th. Finally, Barclays PLC set a $66.00 price target on shares of Fortive Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $61.82.

In other Fortive Corporation news, VP Emily A. Weaver sold 3,749 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Raj Ratnakar sold 11,642 shares of the 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 sale, the vice president now directly owns 5,020 shares of the company’s stock, valued at $312,796.20. The disclosure for this sale can be found here. Company insiders own 12.10% of the company’s stock.

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.

Institutional Ownership by Quarter for Fortive Corporation (NYSE:FTV)

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