Security National Bank of SO Dak Has $596,000 Stake in Fortive Corporation (FTV)
Security National Bank of SO Dak lowered its position in Fortive Corporation (NYSE:FTV) by 0.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,888 shares of the technology company’s stock after selling 2 shares during the period. Security National Bank of SO Dak’s holdings in Fortive Corporation were worth $596,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Fiduciary Trust Co. boosted its stake in shares of Fortive Corporation by 56.3% in the first quarter. Fiduciary Trust Co. now owns 8,228 shares of the technology company’s stock worth $496,000 after buying an additional 2,965 shares in the last quarter. Shelton Capital Management boosted its stake in shares of Fortive Corporation by 71.3% in the first quarter. Shelton Capital Management now owns 25,750 shares of the technology company’s stock worth $1,551,000 after buying an additional 10,717 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Fortive Corporation during the first quarter worth about $953,000. AQR Capital Management LLC boosted its stake in shares of Fortive Corporation by 89.6% in the first quarter. AQR Capital Management LLC now owns 248,691 shares of the technology company’s stock worth $14,976,000 after buying an additional 117,546 shares in the last quarter. Finally, Scopus Asset Management L.P. boosted its stake in shares of Fortive Corporation by 106.5% in the first quarter. Scopus Asset Management L.P. now owns 505,000 shares of the technology company’s stock worth $30,411,000 after buying an additional 260,500 shares in the last quarter. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fortive Corporation (NYSE:FTV) traded up 0.38% during midday trading on Thursday, hitting $66.53. The company had a trading volume of 1,103,108 shares. The company has a market capitalization of $23.09 billion, a price-to-earnings ratio of 26.19 and a beta of 0.23. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $66.54. The company’s 50-day moving average price is $63.82 and its 200 day moving average price is $60.68.
Fortive Corporation (NYSE:FTV) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share (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 during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $0.64 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Fortive Corporation will post $2.78 earnings per share for the current fiscal year.
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A number of brokerages have recently issued reports on FTV. Royal Bank Of Canada restated a “sector perform” rating and set a $66.00 price objective (up previously from $65.00) on shares of Fortive Corporation in a report on Sunday. Barclays PLC set a $66.00 price objective on Fortive Corporation and gave the stock a “buy” rating in a report on Sunday, April 30th. Zacks Investment Research upgraded Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Monday, July 24th. Stifel Nicolaus restated a “hold” rating and set a $62.00 price objective on shares of Fortive Corporation in a report on Sunday. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $61.00.
In other news, VP Raj Ratnakar sold 11,642 shares of Fortive Corporation stock in a transaction 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 completion of the sale, the vice president now directly owns 5,020 shares of the company’s stock, valued at approximately $312,796.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Emily A. Weaver sold 3,749 shares of Fortive Corporation 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 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.
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