Commerce Bank trimmed its position in Fortive Corp (NYSE:FTV) by 8.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,858 shares of the technology company’s stock after selling 12,330 shares during the period. Commerce Bank’s holdings in Fortive were worth $7,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTV. Norges Bank acquired a new position in Fortive in the 4th quarter worth approximately $207,985,000. Artisan Partners Limited Partnership boosted its holdings in shares of Fortive by 8.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,733,142 shares of the technology company’s stock valued at $590,735,000 after acquiring an additional 630,445 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Fortive by 146.8% in the fourth quarter. William Blair Investment Management LLC now owns 889,081 shares of the technology company’s stock worth $67,917,000 after acquiring an additional 528,808 shares during the period. Parnassus Investments CA increased its stake in shares of Fortive by 37.5% in the fourth quarter. Parnassus Investments CA now owns 1,791,116 shares of the technology company’s stock worth $136,823,000 after acquiring an additional 488,818 shares during the period. Finally, Marshall Wace North America L.P. raised its holdings in shares of Fortive by 39.6% during the fourth quarter. Marshall Wace North America L.P. now owns 1,373,529 shares of the technology company’s stock worth $104,926,000 after purchasing an additional 389,541 shares during the last quarter. 81.39% of the stock is currently owned by hedge funds and other institutional investors.
FTV traded down $0.65 on Friday, hitting $57.63. 7,299 shares of the company’s stock were exchanged, compared to its average volume of 2,367,584. Fortive Corp has a fifty-two week low of $37.31 and a fifty-two week high of $83.18. The stock has a market cap of $19.91 billion, a price-to-earnings ratio of 36.20 and a beta of 1.28. The firm has a 50-day moving average price of $58.88 and a 200-day moving average price of $68.33. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.82.
Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Fortive had a net margin of 8.28% and a return on equity of 17.55%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $0.69 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts predict that Fortive Corp will post 2.82 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 29th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.49%. Fortive’s dividend payout ratio (DPR) is presently 8.05%.
A number of research firms have weighed in on FTV. Zacks Investment Research lowered Fortive from a “hold” rating to a “sell” rating and set a $61.00 price objective for the company. in a research note on Thursday, May 7th. Rosenblatt Securities reiterated a “hold” rating and set a $78.00 price target on shares of Fortive in a research report on Tuesday, February 25th. Cowen raised Fortive from an “underperform” rating to a “market perform” rating and set a $70.00 price target for the company in a report on Monday, March 9th. Robert W. Baird dropped their price objective on shares of Fortive from $81.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 28th. Finally, Raymond James cut shares of Fortive from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $74.31.
In other Fortive news, SVP Stacey A. Walker sold 1,754 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $73.77, for a total value of $129,392.58. Following the completion of the sale, the senior vice president now directly owns 28,705 shares in the company, valued at approximately $2,117,567.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alan G. Spoon bought 20,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $54.46 per share, with a total value of $1,089,200.00. In the last ninety days, insiders sold 2,163 shares of company stock valued at $159,165. Insiders own 12.70% of the company’s stock.
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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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