Fortive Corporation (NYSE:FTV) Position Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Fortive Corporation (NYSE:FTV) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,343 shares of the technology company’s stock after buying an additional 687 shares during the period. CIBC Asset Management Inc’s holdings in Fortive Corporation were worth $1,859,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crestwood Advisors Group LLC acquired a new position in Fortive Corporation during the first quarter valued at $102,000. Jacobi Capital Management LLC raised its position in Fortive Corporation by 25.5% in the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock valued at $104,000 after buying an additional 350 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in Fortive Corporation by 20.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,800 shares of the technology company’s stock valued at $108,000 after buying an additional 300 shares during the period. Quadrant Capital Group LLC raised its position in Fortive Corporation by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock valued at $112,000 after buying an additional 7 shares during the period. Finally, CENTRAL TRUST Co raised its position in Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after buying an additional 23 shares during the period. 78.55% of the stock is owned by hedge funds and other institutional investors.

Fortive Corporation (NYSE FTV) traded down 0.20% during trading on Friday, reaching $65.03. The company’s stock had a trading volume of 963,478 shares. The firm has a market cap of $22.57 billion, a PE ratio of 25.61 and a beta of 0.23. Fortive Corporation has a one year low of $46.81 and a one year high of $67.48. The company has a 50-day moving average of $64.70 and a 200 day moving average of $61.61.

Fortive Corporation (NYSE:FTV) last announced its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Fortive Corporation will post $2.79 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be paid 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 is 11.02%.

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Several brokerages have recently commented on FTV. Barclays PLC set a $66.00 target price on Fortive Corporation and gave the company a “buy” rating in a research note on Sunday, April 30th. Royal Bank Of Canada restated a “sector perform” rating and issued a $66.00 target price (up from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th. Zacks Investment Research upgraded Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Monday, July 24th. Morgan Stanley restated an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a research note on Sunday, July 30th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $61.82.

In other Fortive Corporation news, VP Raj Ratnakar sold 11,642 shares of the firm’s 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 transaction, the vice president now owns 5,020 shares of the company’s stock, valued at $312,796.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 21,956 shares of company stock valued at $1,392,744 in the last ninety days. Insiders own 12.10% of the company’s stock.

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.

Institutional Ownership by Quarter for Fortive Corporation (NYSE:FTV)

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