Rhumbline Advisers Sells 12,907 Shares of Fortive Corporation (FTV)
Rhumbline Advisers lowered its stake in shares of Fortive Corporation (NYSE:FTV) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 587,947 shares of the technology company’s stock after selling 12,907 shares during the period. Rhumbline Advisers owned 0.17% of Fortive Corporation worth $41,621,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Redmond Asset Management LLC lifted its position in shares of Fortive Corporation by 14.3% during the third quarter. Redmond Asset Management LLC now owns 7,998 shares of the technology company’s stock worth $566,000 after acquiring an additional 1,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Fortive Corporation by 289.9% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 326,079 shares of the technology company’s stock worth $23,083,000 after acquiring an additional 242,455 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Fortive Corporation by 13.2% during the third quarter. Toronto Dominion Bank now owns 117,891 shares of the technology company’s stock worth $8,344,000 after acquiring an additional 13,714 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Fortive Corporation by 2.2% during the third quarter. New York State Common Retirement Fund now owns 706,450 shares of the technology company’s stock worth $50,010,000 after acquiring an additional 15,000 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Fortive Corporation by 2.7% during the third quarter. CIBC Asset Management Inc now owns 30,124 shares of the technology company’s stock worth $2,132,000 after acquiring an additional 781 shares in the last quarter. Hedge funds and other institutional investors own 79.13% of the company’s stock.
In other Fortive Corporation news, SVP Stacey A. Walker sold 4,775 shares of Fortive Corporation stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James A. Lico sold 50,000 shares of Fortive Corporation stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the sale, the insider now directly owns 166,014 shares of the company’s stock, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is owned by company insiders.
Several equities research analysts have issued reports on FTV shares. SunTrust Banks, Inc. restated a “buy” rating and set a $81.00 target price on shares of Fortive Corporation in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Monday, July 24th. Royal Bank Of Canada restated a “hold” rating and issued a $70.00 price objective on shares of Fortive Corporation in a report on Wednesday, October 11th. Citigroup Inc. raised their price objective on shares of Fortive Corporation from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $72.00 price objective (up from $71.00) on shares of Fortive Corporation in a report on Monday, October 2nd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $70.27.
Shares of Fortive Corporation (NYSE:FTV) traded down $0.82 on Thursday, hitting $71.85. 1,726,100 shares of the company traded hands, compared to its average volume of 1,355,046. The company has a market capitalization of $25,257.11, a P/E ratio of 26.33, a P/E/G ratio of 2.51 and a beta of 0.37. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06. Fortive Corporation has a 12 month low of $52.99 and a 12 month high of $74.38.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. equities analysts predict that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive Corporation’s dividend payout ratio (DPR) is currently 10.57%.
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.
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.