New York State Common Retirement Fund grew its stake in Fortive Corporation (NYSE:FTV) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 706,450 shares of the technology company’s stock after purchasing an additional 15,000 shares during the quarter. New York State Common Retirement Fund owned about 0.20% of Fortive worth $50,010,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of FTV. BDO Wealth Advisors LLC acquired a new stake in Fortive during the 2nd quarter worth $128,000. Westwood Holdings Group Inc. acquired a new stake in Fortive during the 2nd quarter worth $139,000. Sun Life Financial INC raised its stake in Fortive by 21,940.0% during the 2nd quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after buying an additional 2,194 shares during the period. Captrust Financial Advisors acquired a new stake in Fortive during the 2nd quarter worth $147,000. Finally, BB&T Investment Services Inc. acquired a new stake in Fortive during the 2nd quarter worth $157,000. 78.96% of the stock is currently owned by institutional investors.
Shares of Fortive Corporation (NYSE:FTV) traded down $1.28 during trading hours on Wednesday, reaching $72.95. 1,140,200 shares of the company traded hands, compared to its average volume of 1,350,930. Fortive Corporation has a twelve month low of $52.99 and a twelve month high of $75.69. The firm has a market cap of $25,799.31, a P/E ratio of 26.90, a P/E/G ratio of 2.57 and a beta of 0.38. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54.
Fortive (NYSE:FTV) last issued 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. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the business posted $0.65 EPS. Fortive’s revenue was up 7.4% on a year-over-year basis. equities research analysts anticipate that Fortive Corporation will post 2.85 earnings per share for the current year.
The company 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 $0.07 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a yield of 0.38%. Fortive’s dividend payout ratio (DPR) is currently 10.57%.
Several analysts recently commented on the company. Argus raised Fortive from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. SunTrust Banks reiterated a “buy” rating and set a $81.00 target price on shares of Fortive in a report on Friday, October 27th. Citigroup increased their target price on Fortive from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Stifel Nicolaus raised their price objective on Fortive from $62.00 to $72.00 and gave the company a “hold” rating in a report on Friday, October 27th. Finally, ValuEngine cut Fortive from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Fortive has an average rating of “Buy” and a consensus target price of $70.27.
In related news, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the sale, the insider now owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The disclosure for this sale can be found here. Company insiders own 12.10% of the company’s stock.
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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