Boston Family Office LLC Raises Stake in Fortive Corporation (FTV)
Boston Family Office LLC increased its position in Fortive Corporation (NYSE:FTV) by 15.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,570 shares of the technology company’s stock after buying an additional 2,132 shares during the period. Boston Family Office LLC’s holdings in Fortive Corporation were worth $986,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Hutchens Investment Management Inc raised its position in Fortive Corporation by 132.6% in the first quarter. Hutchens Investment Management Inc now owns 30,397 shares of the technology company’s stock worth $1,830,000 after buying an additional 17,331 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Fortive Corporation by 93.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,600 shares of the technology company’s stock worth $3,050,000 after buying an additional 24,500 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in Fortive Corporation by 76.2% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 60,850 shares of the technology company’s stock worth $3,664,000 after buying an additional 26,311 shares in the last quarter. Nationwide Fund Advisors raised its position in Fortive Corporation by 2.3% in the first quarter. Nationwide Fund Advisors now owns 275,908 shares of the technology company’s stock worth $16,615,000 after buying an additional 6,319 shares in the last quarter. Finally, Ledyard National Bank raised its position in Fortive Corporation by 14.0% in the second quarter. Ledyard National Bank now owns 2,706 shares of the technology company’s stock worth $171,000 after buying an additional 333 shares in the last quarter. 78.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fortive Corporation (FTV) opened at 65.03 on Monday. The stock has a market cap of $22.57 billion, a price-to-earnings ratio of 25.61 and a beta of 0.23. The firm has a 50-day moving average price of $64.70 and a 200-day moving average price of $61.61. Fortive Corporation has a one year low of $46.81 and a one year high of $67.48.
Fortive Corporation (NYSE:FTV) last posted its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the business posted $0.64 EPS. Fortive Corporation’s revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, August 25th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.43%. Fortive Corporation’s payout ratio is presently 11.02%.
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FTV has been the topic of a number of research reports. Morgan Stanley lowered Fortive Corporation from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $61.00 to $65.00 in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “sector perform” rating and set a $66.00 price target (up previously from $65.00) on shares of Fortive Corporation in a 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 report on Sunday, July 30th. Zacks Investment Research lowered Fortive Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $61.82.
In related news, VP Emily A. Weaver sold 3,749 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. 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 firm’s 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 disclosure for this sale can be found here. Insiders sold a total of 21,956 shares of company stock worth $1,392,744 over the last quarter. 12.10% of the stock is currently owned by company 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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