Fortive Corporation (FTV) Shares Bought by Tredje AP fonden
Tredje AP fonden boosted its position in shares of Fortive Corporation (NYSE:FTV) by 10.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,464 shares of the technology company’s stock after buying an additional 2,130 shares during the period. Tredje AP fonden’s holdings in Fortive Corporation were worth $1,354,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Fortive Corporation during the fourth quarter worth $138,599,000. Prudential Financial Inc. boosted its position in shares of Fortive Corporation by 109.8% in the first quarter. Prudential Financial Inc. now owns 2,160,610 shares of the technology company’s stock worth $130,112,000 after buying an additional 1,130,600 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Fortive Corporation by 149.5% in the first quarter. William Blair Investment Management LLC now owns 1,880,734 shares of the technology company’s stock worth $113,258,000 after buying an additional 1,126,991 shares in the last quarter. Luminus Management LLC purchased a new position in shares of Fortive Corporation during the fourth quarter worth $58,943,000. Finally, First Eagle Investment Management LLC boosted its position in shares of Fortive Corporation by 25.5% in the first quarter. First Eagle Investment Management LLC now owns 4,718,316 shares of the technology company’s stock worth $284,137,000 after buying an additional 957,431 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Shares of Fortive Corporation (FTV) opened at 64.05 on Friday. The stock has a market cap of $22.20 billion and a PE ratio of 25.13. The company’s 50-day moving average price is $62.80 and its 200-day moving average price is $58.46. Fortive Corporation has a 52-week low of $43.00 and a 52-week high of $64.27.
Fortive Corporation (NYSE:FTV) last announced its earnings results on Thursday, April 27th. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. Fortive Corporation had a return on equity of 34.24% and a net margin of 14.16%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business posted $0.60 earnings per share. Fortive Corporation’s revenue was up 4.1% compared to the same quarter last year. Analysts expect that Fortive Corporation will post $2.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, May 26th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Wednesday, May 24th. Fortive Corporation’s dividend payout ratio is 10.98%.
A number of research analysts have recently weighed in on FTV shares. Morgan Stanley cut Fortive Corporation from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $61.00 to $65.00 in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research upgraded Fortive Corporation from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Wednesday, April 12th. J P Morgan Chase & Co upgraded Fortive Corporation from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $56.00 to $66.00 in a research report on Friday, March 24th. Royal Bank Of Canada assumed coverage on Fortive Corporation in a research report on Thursday, March 23rd. They set a “sector perform” rating and a $63.00 price objective for the company. Finally, Cowen and Company lifted their price objective on Fortive Corporation from $46.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 19th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $59.14.
In other news, VP Raj Ratnakar sold 11,642 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $312,796.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James A. Lico sold 131,994 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $62.34, for a total value of $8,228,505.96. Following the sale, the insider now directly owns 191,101 shares of the company’s stock, valued at $11,913,236.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,385 shares of company stock valued at $9,187,369.
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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