Addenda Capital Inc. lowered its position in Fortive Corporation (NYSE:FTV) by 4.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,074 shares of the technology company’s stock after selling 1,383 shares during the period. Addenda Capital Inc.’s holdings in Fortive Corporation were worth $2,033,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Chartwell Investment Partners LLC acquired a new position in Fortive Corporation during the second quarter worth $1,078,000. KBC Group NV boosted its position in Fortive Corporation by 12.0% in the second quarter. KBC Group NV now owns 137,927 shares of the technology company’s stock worth $8,738,000 after buying an additional 14,772 shares in the last quarter. First Personal Financial Services boosted its position in Fortive Corporation by 45.7% in the second quarter. First Personal Financial Services now owns 3,456 shares of the technology company’s stock worth $219,000 after buying an additional 1,084 shares in the last quarter. DE Burlo Group Inc. boosted its position in Fortive Corporation by 1.0% in the second quarter. DE Burlo Group Inc. now owns 242,400 shares of the technology company’s stock worth $15,356,000 after buying an additional 2,400 shares in the last quarter. Finally, Comerica Bank boosted its position in Fortive Corporation by 0.6% in the second quarter. Comerica Bank now owns 107,922 shares of the technology company’s stock worth $6,831,000 after buying an additional 683 shares in the last quarter. Institutional investors and hedge funds own 78.55% of the company’s stock.
Fortive Corporation (NYSE FTV) opened at 65.03 on Friday. The company’s 50-day moving average price is $64.70 and its 200 day moving average price is $61.61. Fortive Corporation has a 1-year low of $46.81 and a 1-year high of $67.48. 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 (NYSE:FTV) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ 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 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 previous year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be given 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 presently 11.02%.
A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 price target (up from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Stifel Nicolaus reiterated a “hold” rating and set a $62.00 price target on shares of Fortive Corporation in a report on Sunday, July 30th. Zacks Investment Research upgraded Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Fortive Corporation presently has a consensus rating of “Hold” and a consensus target price of $61.82.
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 stock was 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 owns 5,020 shares of the company’s stock, valued at $312,796.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,565 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,956 shares of company stock valued at $1,392,744. 12.10% of the stock is owned by company 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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