BB&T Corp reduced its position in Fortive Corporation (NYSE:FTV) by 15.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,680 shares of the technology company’s stock after selling 1,198 shares during the period. BB&T Corp’s holdings in Fortive Corporation were worth $423,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Fortive Corporation by 2,497.9% in the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock valued at $996,902,000 after buying an additional 15,917,140 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Fortive Corporation during the first quarter worth approximately $115,464,000. Marshall Wace North America L.P. purchased a new stake in Fortive Corporation during the first quarter worth approximately $115,464,000. Prudential Financial Inc. boosted its stake in shares of Fortive Corporation by 109.8% in the first quarter. Prudential Financial Inc. now owns 2,160,610 shares of the technology company’s stock worth $130,112,000 after buying an additional 1,130,600 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Fortive Corporation by 149.5% in the first quarter. William Blair Investment Management LLC now owns 1,880,734 shares of the technology company’s stock worth $113,258,000 after buying an additional 1,126,991 shares during the period. 78.55% of the stock is currently owned by institutional investors and hedge funds.
Fortive Corporation (NYSE:FTV) traded down 0.20% during trading on Friday, hitting $65.03. 963,478 shares of the company traded hands. The firm has a 50 day moving average of $64.70 and a 200 day moving average of $61.61. Fortive Corporation has a one year low of $46.81 and a one year high of $67.48. The firm has a market cap of $22.57 billion, a P/E ratio of 25.61 and a beta of 0.23.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, analysts expect that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, August 25th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio (DPR) is currently 11.02%.
A number of equities research analysts have issued reports on FTV shares. Zacks Investment Research upgraded Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Monday, July 24th. Barclays PLC set a $66.00 price target on Fortive Corporation and gave the stock a “buy” rating in a report on Sunday, April 30th. Morgan Stanley downgraded Fortive Corporation from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $61.00 to $65.00 in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $62.00 price target on shares of Fortive Corporation in a report on Sunday, July 30th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $61.82.
In other Fortive Corporation news, VP Emily A. Weaver sold 3,749 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total transaction of $233,450.23. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Raj Ratnakar sold 11,642 shares of Fortive Corporation stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $62.31, for a total transaction of $725,413.02. Following the completion of the sale, the vice president now owns 5,020 shares in the company, valued at $312,796.20. The disclosure for this sale can be found here. Insiders have sold a total of 21,956 shares of company stock valued at $1,392,744 in the last quarter. 12.10% of the stock is currently owned by corporate 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.
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