Fortive Corporation (FTV) is Argent Capital Management LLC’s 10th Largest Position
Argent Capital Management LLC raised its stake in Fortive Corporation (NYSE:FTV) by 32.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,053,797 shares of the technology company’s stock after acquiring an additional 260,795 shares during the quarter. Fortive Corporation comprises approximately 2.7% of Argent Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Argent Capital Management LLC owned approximately 0.30% of Fortive Corporation worth $66,758,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Princeton Portfolio Strategies Group LLC increased its position in Fortive Corporation by 1.6% in the 2nd quarter. Princeton Portfolio Strategies Group LLC now owns 5,568 shares of the technology company’s stock valued at $353,000 after acquiring an additional 90 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Fortive Corporation by 29.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,009,054 shares of the technology company’s stock valued at $63,922,000 after acquiring an additional 229,519 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Fortive Corporation in the 2nd quarter valued at about $5,540,000. Moors & Cabot Inc. increased its position in Fortive Corporation by 161.0% in the 2nd quarter. Moors & Cabot Inc. now owns 11,845 shares of the technology company’s stock valued at $750,000 after acquiring an additional 7,307 shares in the last quarter. Finally, CNH Partners LLC increased its position in Fortive Corporation by 12.7% in the 2nd quarter. CNH Partners LLC now owns 470,721 shares of the technology company’s stock valued at $29,820,000 after acquiring an additional 53,002 shares in the last quarter. Hedge funds and other institutional investors own 78.59% of the company’s stock.
Shares of Fortive Corporation (NYSE FTV) traded down 0.03% during midday trading on Friday, hitting $71.55. 1,050,800 shares of the stock traded hands. The firm’s 50-day moving average is $69.93 and its 200 day moving average is $69.93. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 28.18 and a beta of 0.39. Fortive Corporation has a 52 week low of $46.81 and a 52 week high of $72.01.
Fortive Corporation (NYSE:FTV) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Fortive Corporation will post $2.79 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, August 25th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio is currently 11.02%.
Several research firms have weighed in on FTV. Stifel Nicolaus restated a “hold” rating and issued a $62.00 price objective on shares of Fortive Corporation in a research report on Sunday, July 30th. Royal Bank Of Canada restated a “hold” rating and issued a $66.00 price objective on shares of Fortive Corporation in a research report on Friday, September 15th. Zacks Investment Research cut shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Finally, Morgan Stanley restated an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.44.
In other news, CFO Charles E. Mclaughlin sold 6,565 shares of the company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.10% of the company’s stock.
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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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