Hikari Tsushin Inc. Boosts Stake in Fortive Corporation (FTV)
Hikari Tsushin Inc. grew its holdings in Fortive Corporation (NYSE:FTV) by 70.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,117 shares of the technology company’s stock after purchasing an additional 21,200 shares during the period. Fortive Corporation makes up about 1.0% of Hikari Tsushin Inc.’s holdings, making the stock its 16th biggest position. Hikari Tsushin Inc.’s holdings in Fortive Corporation were worth $3,238,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of FTV. Spot Trading L.L.C. bought a new stake in shares of Fortive Corporation in the first quarter valued at approximately $637,000. OppenheimerFunds Inc. raised its position in shares of Fortive Corporation by 2.9% in the first quarter. OppenheimerFunds Inc. now owns 13,074 shares of the technology company’s stock valued at $787,000 after purchasing an additional 373 shares during the period. Teachers Advisors LLC raised its position in shares of Fortive Corporation by 122.8% in the first quarter. Teachers Advisors LLC now owns 1,700,817 shares of the technology company’s stock valued at $102,423,000 after purchasing an additional 937,436 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Fortive Corporation by 37.9% in the first quarter. TIAA CREF Investment Management LLC now owns 2,358,654 shares of the technology company’s stock valued at $142,038,000 after purchasing an additional 647,870 shares during the period. Finally, Waratah Capital Advisors Ltd. raised its position in shares of Fortive Corporation by 195.8% in the first quarter. Waratah Capital Advisors Ltd. now owns 176,917 shares of the technology company’s stock valued at $10,654,000 after purchasing an additional 117,117 shares during the period. 78.54% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $70.00 price target on shares of Fortive Corporation in a research report on Wednesday, October 11th. Citigroup Inc. reissued a “neutral” rating and issued a $72.00 price target (up previously from $65.00) on shares of Fortive Corporation in a research report on Monday, October 9th. Morgan Stanley reissued an “equal weight” rating and issued a $72.00 price target (up previously from $71.00) on shares of Fortive Corporation in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Tuesday, September 19th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $62.00 price target on shares of Fortive Corporation in a research report on Sunday, July 30th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Fortive Corporation has an average rating of “Hold” and an average price target of $66.50.
COPYRIGHT VIOLATION WARNING: This piece of content was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/10/20/hikari-tsushin-inc-boosts-stake-in-fortive-corporation-ftv.html.
Fortive Corporation (NYSE FTV) traded up 0.87% during mid-day trading on Friday, reaching $71.72. 364,443 shares of the company were exchanged. The stock has a market capitalization of $24.89 billion, a price-to-earnings ratio of 28.25 and a beta of 0.39. The stock has a 50 day moving average of $69.76 and a 200-day moving average of $64.98. Fortive Corporation has a one year low of $46.81 and a one year high of $73.21.
Fortive Corporation (NYSE:FTV) last released its 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 company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Fortive Corporation will post $2.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, August 25th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Wednesday, August 23rd. Fortive Corporation’s payout ratio is 11.02%.
In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.
Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Corporation (NYSE:FTV).
Receive News & Stock Ratings for Fortive Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive Corporation and related stocks with our FREE daily email newsletter.