Tokio Marine Asset Management Co. Ltd. lowered its stake in Fortive Corporation (NYSE:FTV) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,737 shares of the technology company’s stock after selling 386 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Fortive Corporation were worth $237,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Crestwood Advisors Group LLC acquired a new stake in Fortive Corporation during the first quarter valued at about $102,000. Jacobi Capital Management LLC increased its stake 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 in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake 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 in the last quarter. Quadrant Capital Group LLC increased 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. Finally, CENTRAL TRUST Co increased 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. Institutional investors own 78.55% of the company’s stock.
Shares of Fortive Corporation (NYSE FTV) traded down 0.20% on Friday, hitting $65.03. The stock had a trading volume of 963,478 shares. The stock has a market cap of $22.57 billion, a P/E ratio of 25.61 and a beta of 0.23. The firm’s 50-day moving average is $64.64 and its 200 day moving average is $61.54. Fortive Corporation has a 1-year low of $46.81 and a 1-year high of $67.48.
Fortive Corporation (NYSE:FTV) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 EPS. Equities 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. Shareholders of record on Friday, August 25th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.28 annualized dividend and a yield of 0.43%. Fortive Corporation’s dividend payout ratio (DPR) is 11.02%.
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Several equities research analysts have issued reports on the company. Barclays PLC set a $66.00 price objective on Fortive Corporation and gave the stock a “buy” rating in a report on Sunday, April 30th. Royal Bank Of Canada restated 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. 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 report on Monday, July 24th. Morgan Stanley restated an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Finally, Stifel Nicolaus restated a “hold” rating and set a $62.00 price objective 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 given a buy rating to the stock. Fortive Corporation presently has an average rating of “Hold” and an average price target of $61.82.
In other news, VP Emily A. Weaver sold 3,749 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total value of $233,450.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Raj Ratnakar sold 11,642 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total value of $725,413.02. Following the completion of the transaction, the vice president now directly owns 5,020 shares of the company’s stock, valued at $312,796.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,956 shares of company stock valued at $1,392,744. 12.10% of the stock is currently owned by 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.
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