Flossbach Von Storch AG cut its stake in Fortive Corporation (NYSE:FTV) by 10.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,586,683 shares of the technology company’s stock after selling 192,258 shares during the period. Fortive Corporation accounts for 1.1% of Flossbach Von Storch AG’s portfolio, making the stock its 25th largest position. Flossbach Von Storch AG owned approximately 0.46% of Fortive Corporation worth $100,516,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FTV. FMR LLC increased its position in Fortive Corporation by 2.7% in the first quarter. FMR LLC now owns 21,506,167 shares of the technology company’s stock valued at $1,295,101,000 after buying an additional 574,042 shares during the period. Vanguard Group Inc. increased its position in Fortive Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 19,993,417 shares of the technology company’s stock valued at $1,204,004,000 after buying an additional 646,463 shares during the period. BlackRock Inc. boosted 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. State Street Corp boosted its stake in Fortive Corporation by 1.4% in the first quarter. State Street Corp now owns 12,557,670 shares of the technology company’s stock valued at $756,215,000 after buying an additional 174,619 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Fortive Corporation by 25.5% in the first quarter. First Eagle Investment Management LLC now owns 4,718,316 shares of the technology company’s stock valued at $284,137,000 after buying an additional 957,431 shares in the last quarter. 78.55% of the stock is owned by institutional investors.
Shares of Fortive Corporation (FTV) opened at 65.03 on Friday. Fortive Corporation has a 1-year low of $46.81 and a 1-year high of $67.48. The company has a market cap of $22.57 billion, a price-to-earnings ratio of 25.61 and a beta of 0.23. The company’s 50-day moving average is $64.70 and its 200 day moving average is $61.61.
Fortive Corporation (NYSE:FTV) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. Equities analysts anticipate that Fortive Corporation will post $2.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend 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 currently 11.02%.
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Several analysts have issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a research note on Sunday, July 30th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fortive Corporation in a research report on Monday, May 22nd. Morgan Stanley restated an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Barclays PLC set a $66.00 price objective on shares of Fortive Corporation and gave the company a “buy” rating in a research report on Sunday, April 30th. Finally, Zacks Investment Research cut shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Fortive Corporation currently has an average rating of “Hold” and an average target price of $61.82.
In related news, CFO Charles E. Mclaughlin sold 6,565 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $66.09, for a total transaction of $433,880.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Emily A. Weaver sold 3,749 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. Insiders sold a total of 21,956 shares of company stock worth $1,392,744 over the last ninety days. Corporate 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.
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