Fortive Corporation (FTV) Stake Lifted by Nordea Investment Management AB
Nordea Investment Management AB raised its position in Fortive Corporation (NYSE:FTV) by 45.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 24,436 shares of the technology company’s stock after purchasing an additional 7,632 shares during the period. Nordea Investment Management AB’s holdings in Fortive were worth $1,730,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BDO Wealth Advisors LLC acquired a new position in shares of Fortive in the 2nd quarter worth approximately $128,000. Willingdon Wealth Management acquired a new position in shares of Fortive in the 3rd quarter worth approximately $143,000. Westwood Holdings Group Inc. acquired a new position in shares of Fortive in the 2nd quarter worth approximately $139,000. Sun Life Financial INC lifted its position in shares of Fortive by 21,940.0% in the 2nd quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,194 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of Fortive in the 2nd quarter worth approximately $147,000. Hedge funds and other institutional investors own 78.96% of the company’s stock.
FTV has been the topic of a number of recent analyst reports. SunTrust Banks restated a “buy” rating and issued a $81.00 price target on shares of Fortive in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Fortive 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 26th. Royal Bank Of Canada restated a “hold” rating and issued a $70.00 price target on shares of Fortive in a research report on Wednesday, October 11th. Citigroup boosted their price target on shares of Fortive from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Fortive has a consensus rating of “Buy” and a consensus price target of $70.27.
Fortive (NYSE:FTV) last released its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company earned $0.65 EPS. Fortive’s quarterly revenue was up 7.4% compared to the same quarter last year. research analysts expect that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.
The business also recently announced 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. The ex-dividend date is Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. Fortive’s payout ratio is presently 10.57%.
In related news, insider James A. Lico sold 50,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the transaction, the insider now owns 166,014 shares in the company, valued at approximately $12,142,263.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stacey A. Walker sold 4,775 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is owned by insiders.
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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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