Fortive Corporation (FTV) Stake Increased by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. grew its stake in Fortive Corporation (NYSE:FTV) by 27.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,624 shares of the technology company’s stock after acquiring an additional 18,007 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Fortive Corporation were worth $5,298,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Jacobi Capital Management LLC increased its stake in shares of Fortive Corporation by 25.5% in the 1st quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock valued at $104,000 after acquiring an additional 350 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of Fortive Corporation by 20.0% in the 1st quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,800 shares of the technology company’s stock valued at $108,000 after acquiring an additional 300 shares during the last quarter. BDO Wealth Advisors LLC bought a new stake in shares of Fortive Corporation in the 2nd quarter valued at about $128,000. First Personal Financial Services increased its stake in shares of Fortive Corporation by 17.3% in the 1st quarter. First Personal Financial Services now owns 2,372 shares of the technology company’s stock valued at $142,000 after acquiring an additional 350 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in shares of Fortive Corporation by 1.0% in the 2nd quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after acquiring an additional 23 shares during the last quarter. 78.70% of the stock is owned by institutional investors.
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Shares of Fortive Corporation (FTV) opened at 67.52 on Tuesday. Fortive Corporation has a 1-year low of $46.81 and a 1-year high of $67.61. The company’s 50-day moving average price is $65.18 and its 200-day moving average price is $62.47. The company has a market capitalization of $23.44 billion, a PE ratio of 26.59 and a beta of 0.27.
Fortive Corporation (NYSE:FTV) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. On average, equities analysts expect that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.41%. Fortive Corporation’s payout ratio is currently 11.02%.
In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of Fortive Corporation stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $66.09, for a total value of $433,880.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.10% of the company’s stock.
A number of brokerages have recently commented on FTV. Zacks Investment Research cut Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $66.00 price target (up from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $62.00 price target on shares of Fortive Corporation in a research note on Sunday, July 30th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Fortive Corporation currently has a consensus rating of “Hold” and an average price target of $61.82.
Fortive Corporation 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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