Fortive Corp (FTV) Shares Bought by ST Germain D J Co. Inc.
ST Germain D J Co. Inc. boosted its holdings in Fortive Corp (NYSE:FTV) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,408 shares of the technology company’s stock after acquiring an additional 529 shares during the period. ST Germain D J Co. Inc.’s holdings in Fortive were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of FTV. Baystate Wealth Management LLC increased its position in Fortive by 837.8% during the 4th quarter. Baystate Wealth Management LLC now owns 347 shares of the technology company’s stock worth $25,000 after buying an additional 310 shares during the period. Cornerstone Advisors Inc. increased its position in Fortive by 104.6% during the 3rd quarter. Cornerstone Advisors Inc. now owns 309 shares of the technology company’s stock worth $26,000 after buying an additional 158 shares during the period. Ipswich Investment Management Co. Inc. bought a new position in Fortive during the 4th quarter worth $50,000. Financial Gravity Companies Inc. bought a new position in Fortive during the 4th quarter worth $62,000. Finally, Private Capital Group LLC increased its position in Fortive by 22.1% during the 4th quarter. Private Capital Group LLC now owns 1,303 shares of the technology company’s stock worth $88,000 after buying an additional 236 shares during the period. Institutional investors and hedge funds own 81.42% of the company’s stock.
Several research firms have recently issued reports on FTV. Credit Suisse Group reissued a “neutral” rating and set a $78.00 target price (down from $86.00) on shares of Fortive in a report on Thursday, January 3rd. SunTrust Banks reduced their target price on Fortive from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, October 29th. Zacks Investment Research raised Fortive from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Morgan Stanley raised Fortive from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $84.00 to $82.00 in a report on Tuesday, December 18th. Finally, TheStreet raised Fortive from a “c” rating to a “b-” rating in a report on Wednesday, January 30th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $85.82.
Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, February 7th. The technology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.77 billion. Fortive had a return on equity of 22.42% and a net margin of 40.50%. Fortive’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. On average, research analysts predict that Fortive Corp will post 3.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, February 22nd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.36%. The ex-dividend date is Thursday, February 21st. Fortive’s dividend payout ratio (DPR) is presently 9.15%.
In related news, VP Jonathan L. Schwarz sold 8,869 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $74.70, for a total value of $662,514.30. Following the sale, the vice president now directly owns 7,270 shares of the company’s stock, valued at $543,069. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William W. Pringle sold 476 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $73.18, for a total value of $34,833.68. Following the completion of the sale, the insider now directly owns 28,639 shares in the company, valued at $2,095,802.02. The disclosure for this sale can be found here. Insiders sold 9,813 shares of company stock worth $732,570 over the last ninety days. 12.20% of the stock is currently owned by insiders.
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Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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