Fortive Corporation (FTV) Shares Bought by Palisade Capital Management LLC NJ

Palisade Capital Management LLC NJ boosted its stake in Fortive Corporation (NYSE:FTV) by 11.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 162,354 shares of the technology company’s stock after buying an additional 16,692 shares during the period. Palisade Capital Management LLC NJ’s holdings in Fortive Corporation were worth $10,285,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Endurance Wealth Management Inc. boosted its stake in Fortive Corporation by 1.0% in the second quarter. Endurance Wealth Management Inc. now owns 32,882 shares of the technology company’s stock valued at $2,083,000 after buying an additional 320 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Fortive Corporation by 9.2% in the second quarter. Cullen Frost Bankers Inc. now owns 95,515 shares of the technology company’s stock valued at $6,051,000 after buying an additional 8,077 shares in the last quarter. Novare Capital Management LLC boosted its stake in shares of Fortive Corporation by 8.3% in the second quarter. Novare Capital Management LLC now owns 71,300 shares of the technology company’s stock valued at $4,517,000 after buying an additional 5,470 shares in the last quarter. First Bank & Trust boosted its stake in shares of Fortive Corporation by 1.1% in the second quarter. First Bank & Trust now owns 7,907 shares of the technology company’s stock valued at $501,000 after buying an additional 88 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Fortive Corporation by 0.3% in the second quarter. Retirement Systems of Alabama now owns 249,272 shares of the technology company’s stock valued at $15,791,000 after buying an additional 688 shares in the last quarter. 78.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Fortive Corporation (FTV) traded down 0.20% during mid-day trading on Friday, reaching $65.03. 963,478 shares of the company were exchanged. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $67.48. The company has a market capitalization of $22.57 billion, a price-to-earnings ratio of 25.61 and a beta of 0.23. The firm’s 50-day moving average is $64.70 and its 200-day moving average is $61.61.

Fortive Corporation (NYSE:FTV) last posted its earnings results 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 business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the business posted $0.64 EPS. Fortive Corporation’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts forecast 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 paid a $0.07 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.43%. Fortive Corporation’s payout ratio is presently 11.02%.

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FTV has been the subject of several research reports. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Monday, July 24th. Morgan Stanley cut shares of Fortive Corporation from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $61.00 to $65.00 in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “sector perform” rating and set a $66.00 price objective (up from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th. Barclays PLC set a $66.00 price objective on shares of Fortive Corporation and gave the company a “buy” rating in a research note on Sunday, April 30th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Fortive Corporation currently has a consensus rating of “Hold” and an average price target of $61.82.

In related news, CFO Charles E. Mclaughlin sold 6,565 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Emily A. Weaver sold 3,749 shares of the firm’s stock in a transaction 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 sold a total of 21,956 shares of company stock worth $1,392,744 over the last quarter. 12.10% of the stock is currently owned by company insiders.

About Fortive Corporation

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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