Park Avenue Securities LLC bought a new stake in Fortive Corporation (NYSE:FTV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,379 shares of the technology company’s stock, valued at approximately $214,000.
Other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake 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 in the last quarter. CENTRAL TRUST Co raised its stake 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 in the last quarter. Advisor Partners LLC raised its stake in Fortive Corporation by 0.7% in the first quarter. Advisor Partners LLC now owns 7,150 shares of the technology company’s stock valued at $431,000 after buying an additional 51 shares in the last quarter. Atria Investments LLC raised its stake in Fortive Corporation by 1.4% in the second quarter. Atria Investments LLC now owns 4,570 shares of the technology company’s stock valued at $289,000 after buying an additional 61 shares in the last quarter. Finally, ING Groep NV raised its stake in Fortive Corporation by 0.6% in the second quarter. ING Groep NV now owns 15,448 shares of the technology company’s stock valued at $979,000 after buying an additional 89 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. The firm’s 50-day moving average is $64.70 and its 200-day moving average is $61.61. Fortive Corporation has a one year low of $46.81 and a one year high of $67.48. The stock has a market capitalization of $22.57 billion, a price-to-earnings ratio of 25.61 and a beta of 0.23.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts forecast that Fortive Corporation will post $2.79 EPS for the current year.
The company also recently declared 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 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Fortive Corporation’s payout ratio is 11.02%.
Several research firms recently issued reports on FTV. Barclays PLC set a $66.00 target price on shares of Fortive Corporation and gave the stock a “buy” rating in a report on Sunday, April 30th. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Monday, July 24th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $66.00 price objective (up from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Fortive Corporation presently has an average rating of “Hold” and a consensus price target of $61.82.
In related news, VP Raj Ratnakar sold 11,642 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was 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 directly owns 5,020 shares in the company, valued at $312,796.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,565 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $66.09, for a total value of $433,880.85. The disclosure for this sale can be found here. Insiders have sold 21,956 shares of company stock valued at $1,392,744 over the last quarter. 12.10% of the stock is owned by company 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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