Oak Ridge Investments LLC trimmed its stake in Fortive Corporation (NYSE:FTV) by 19.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,483 shares of the technology company’s stock after selling 26,476 shares during the period. Oak Ridge Investments LLC’s holdings in Fortive Corporation were worth $7,963,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Spot Trading L.L.C. bought a new stake in shares of Fortive Corporation during the 1st quarter worth approximately $637,000. Bank of Montreal Can raised its position in Fortive Corporation by 5.0% during the 2nd quarter. Bank of Montreal Can now owns 227,021 shares of the technology company’s stock valued at $14,383,000 after purchasing an additional 10,880 shares in the last quarter. Creative Planning raised its position in Fortive Corporation by 8.4% during the 2nd quarter. Creative Planning now owns 7,930 shares of the technology company’s stock valued at $502,000 after purchasing an additional 614 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Fortive Corporation during the 2nd quarter valued at $173,000. Finally, Chesley Taft & Associates LLC raised its position in Fortive Corporation by 74.6% during the 2nd quarter. Chesley Taft & Associates LLC now owns 101,114 shares of the technology company’s stock valued at $6,406,000 after purchasing an additional 43,200 shares in the last quarter. 79.13% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Monday, July 24th. Citigroup Inc. lifted their target price on Fortive Corporation from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Stifel Nicolaus lifted their target price on Fortive Corporation from $62.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $72.00 target price (up from $71.00) on shares of Fortive Corporation in a research report on Monday, October 2nd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $66.00 target price (up from $65.00) on shares of Fortive Corporation in a research report on Sunday, July 30th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $70.27.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Fortive Corporation had a return on equity of 31.67% and a net margin of 14.39%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the business posted $0.65 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. sell-side analysts forecast that Fortive Corporation will post 2.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a yield of 0.39%. Fortive Corporation’s dividend payout ratio (DPR) is 10.57%.
In related news, insider James A. Lico sold 50,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the transaction, the insider now directly owns 166,014 shares in the company, valued at approximately $12,142,263.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Stacey A. Walker sold 4,775 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total value of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is owned by insiders.
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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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