Toronto Dominion Bank increased its holdings in shares of Fortive Corporation (NYSE:FTV) by 24.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,177 shares of the technology company’s stock after buying an additional 20,519 shares during the quarter. Toronto Dominion Bank’s holdings in Fortive Corporation were worth $6,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Jacobi Capital Management LLC grew its stake in Fortive Corporation by 25.5% during the 1st 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. BDO Wealth Advisors LLC purchased a new position in Fortive Corporation during the 2nd quarter worth $128,000. Westwood Holdings Group Inc. purchased a new position in Fortive Corporation during the 2nd quarter worth $139,000. Sun Life Financial INC grew its stake in Fortive Corporation by 21,940.0% during the 2nd quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after buying an additional 2,194 shares during the last quarter. Finally, CENTRAL TRUST Co grew its stake in Fortive Corporation by 1.0% during the 2nd quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.
In related news, CFO Charles E. Mclaughlin sold 6,565 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $66.09, for a total transaction of $433,880.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 12.10% of the company’s stock.
Several brokerages recently weighed in on FTV. Royal Bank Of Canada restated a “hold” rating and set a $70.00 target price on shares of Fortive Corporation in a research note on Wednesday, October 11th. Zacks Investment Research upgraded Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Tuesday, September 26th. Citigroup Inc. reiterated a “neutral” rating and set a $72.00 price target (up previously from $65.00) on shares of Fortive Corporation in a research note on Monday, October 9th. Morgan Stanley reiterated an “equal weight” rating and set a $72.00 price target (up previously from $71.00) on shares of Fortive Corporation in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $62.00 price target on shares of Fortive Corporation in a research note on Sunday, July 30th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $66.50.
Shares of Fortive Corporation (FTV) traded down 0.57% during trading on Thursday, hitting $71.21. The stock had a trading volume of 62,300 shares. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $73.21. The stock has a market cap of $24.72 billion, a price-to-earnings ratio of 28.05 and a beta of 0.39. The stock’s 50-day moving average is $69.58 and its 200-day moving average is $64.93.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping the 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 analyst estimates of $1.61 billion. During the same quarter last year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Fortive Corporation will post $2.80 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, August 25th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio is currently 11.02%.
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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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