Franklin Street Advisors Inc. NC lifted its holdings in Fortive Corp (NYSE:FTV) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 75,518 shares of the technology company’s stock after acquiring an additional 2,863 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Fortive were worth $5,464,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in FTV. Capital World Investors grew its position in Fortive by 37.9% during the 2nd quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock valued at $622,996,000 after purchasing an additional 2,701,496 shares during the last quarter. BlackRock Inc. grew its position in Fortive by 11.7% during the 2nd quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock valued at $1,171,255,000 after purchasing an additional 1,934,309 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Fortive by 41.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock valued at $210,997,000 after purchasing an additional 971,997 shares during the last quarter. APG Asset Management N.V. grew its position in Fortive by 49.7% during the 3rd quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock valued at $154,483,000 after purchasing an additional 724,400 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Fortive by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock valued at $1,305,909,000 after purchasing an additional 620,784 shares during the last quarter. 78.75% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Stacey A. Walker sold 4,775 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James A. Lico sold 50,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 166,014 shares in the company, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is owned by corporate insiders.
Fortive (NYSE:FTV) last posted its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. research analysts forecast that Fortive Corp will post 2.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, November 24th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Wednesday, November 22nd. Fortive’s dividend payout ratio (DPR) is presently 10.57%.
Several analysts recently commented on the stock. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Royal Bank of Canada restated a “hold” rating and set a $79.00 target price on shares of Fortive in a research note on Thursday, January 4th. SunTrust Banks restated a “buy” rating and set a $81.00 target price on shares of Fortive in a research note on Friday, October 27th. Citigroup upped their target price on shares of Fortive from $72.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Finally, Stifel Nicolaus upped their target price on shares of Fortive from $62.00 to $72.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $71.36.
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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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