Canada Pension Plan Investment Board held its position in Fortive Corporation (NYSE:FTV) during the second quarter, Holdings Channel reports. The fund owned 154,649 shares of the technology company’s stock at the end of the second quarter. Canada Pension Plan Investment Board’s holdings in Fortive Corporation were worth $9,797,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of FTV. Crestwood Advisors Group LLC purchased a new position in Fortive Corporation during the first quarter valued at $102,000. Jacobi Capital Management LLC boosted its position in 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 during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in 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 during the last quarter. CENTRAL TRUST Co boosted 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 valued at $147,000 after buying an additional 23 shares during the last quarter. Finally, First Personal Financial Services boosted its position in 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 during the last quarter. Hedge funds and other institutional investors own 78.55% of the company’s stock.
Shares of Fortive Corporation (FTV) opened at 65.03 on Friday. The firm’s 50 day moving average is $64.70 and its 200-day moving average is $61.61. The firm has a market cap of $22.57 billion, a price-to-earnings ratio of 25.61 and a beta of 0.23. Fortive Corporation has a 52 week low of $46.81 and a 52 week high of $67.48.
Fortive Corporation (NYSE:FTV) last issued its earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that Fortive Corporation will post $2.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio is 11.02%.
Several equities analysts have weighed in on the stock. Barclays PLC set a $66.00 price objective on shares of Fortive Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 price objective (up from $65.00) on shares of Fortive Corporation in a research report on Sunday, July 30th. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $62.00 price objective on shares of Fortive Corporation in a research report on Sunday, July 30th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $61.82.
In other news, CFO Charles E. Mclaughlin sold 6,565 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Emily A. Weaver sold 3,749 shares of the 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 disclosure for this sale can be found here. Insiders have sold 21,956 shares of company stock valued at $1,392,744 in the last three months. 12.10% of the stock is owned by insiders.
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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