Fortive Corporation (FTV) Shares Bought by Advisor Group Inc.
Advisor Group Inc. increased its holdings in shares of Fortive Corporation (NYSE:FTV) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,739 shares of the technology company’s stock after acquiring an additional 839 shares during the quarter. Advisor Group Inc.’s holdings in Fortive Corporation were worth $869,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Swiss National Bank boosted its position in Fortive Corporation by 3.2% in the second quarter. Swiss National Bank now owns 1,137,872 shares of the technology company’s stock worth $72,084,000 after purchasing an additional 35,300 shares during the last quarter. Hikari Power Ltd grew its stake in Fortive Corporation by 34.7% in the 2nd quarter. Hikari Power Ltd now owns 141,700 shares of the technology company’s stock valued at $8,977,000 after purchasing an additional 36,500 shares during the period. Hutchens Investment Management Inc grew its stake in Fortive Corporation by 132.6% in the 1st quarter. Hutchens Investment Management Inc now owns 30,397 shares of the technology company’s stock valued at $1,830,000 after purchasing an additional 17,331 shares during the period. Synovus Financial Corp grew its stake in Fortive Corporation by 23.9% in the 2nd quarter. Synovus Financial Corp now owns 29,587 shares of the technology company’s stock valued at $1,872,000 after purchasing an additional 5,715 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Fortive Corporation by 93.9% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,600 shares of the technology company’s stock valued at $3,050,000 after purchasing an additional 24,500 shares during the period. Institutional investors and hedge funds own 78.59% of the company’s stock.
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Several equities research analysts have recently issued reports on FTV shares. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Tuesday, September 26th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $66.00 price target (up from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $62.00 price target on shares of Fortive Corporation in a report on Sunday, July 30th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $64.67.
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 shares were sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.10% of the company’s stock.
Shares of Fortive Corporation (NYSE:FTV) opened at 70.79 on Monday. The firm has a 50-day moving average price of $69.00 and a 200-day moving average price of $69.00. Fortive Corporation has a 52-week low of $46.81 and a 52-week high of $71.07. The stock has a market capitalization of $24.57 billion, a P/E ratio of 27.88 and a beta of 0.37.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 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 firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts predict that Fortive Corporation will post $2.79 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, August 25th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio is currently 11.02%.
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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