Fortive Corporation (FTV) Stake Increased by Steinberg Global Asset Management
Steinberg Global Asset Management raised its stake in Fortive Corporation (NYSE:FTV) by 8.5% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 16,966 shares of the technology company’s stock after buying an additional 1,334 shares during the period. Steinberg Global Asset Management’s holdings in Fortive Corporation were worth $1,022,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of FTV. Quadrature Capital Ltd boosted its position in Fortive Corporation by 703.3% in the fourth quarter. Quadrature Capital Ltd now owns 131,303 shares of the technology company’s stock valued at $7,046,000 after buying an additional 114,958 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Fortive Corporation by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 903,575 shares of the technology company’s stock worth $48,461,000 after buying an additional 7,906 shares during the period. Putnam Investments LLC increased its stake in shares of Fortive Corporation by 22.0% in the fourth quarter. Putnam Investments LLC now owns 1,460,604 shares of the technology company’s stock worth $78,332,000 after buying an additional 263,455 shares during the period. Integrated Investment Consultants LLC increased its stake in shares of Fortive Corporation by 201.4% in the first quarter. Integrated Investment Consultants LLC now owns 2,670 shares of the technology company’s stock worth $161,000 after buying an additional 1,784 shares during the period. Finally, Nexus Investment Management Inc. increased its stake in shares of Fortive Corporation by 8.6% in the first quarter. Nexus Investment Management Inc. now owns 13,000 shares of the technology company’s stock worth $783,000 after buying an additional 1,025 shares during the period. 79.91% of the stock is owned by institutional investors.
Fortive Corporation (FTV) traded up 1.60% during midday trading on Friday, hitting $64.05. The company had a trading volume of 1,676,673 shares. The stock has a market cap of $22.20 billion and a price-to-earnings ratio of 25.13. The company’s 50 day moving average is $62.80 and its 200 day moving average is $58.46. Fortive Corporation has a 12-month low of $43.00 and a 12-month high of $64.27.
Fortive Corporation (NYSE:FTV) last posted its quarterly earnings data on Thursday, April 27th. The technology company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Fortive Corporation had a net margin of 14.16% and a return on equity of 34.24%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. On average, equities analysts anticipate that Fortive Corporation will post $2.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, May 26th will be given a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $0.28 annualized dividend and a yield of 0.44%. Fortive Corporation’s dividend payout ratio (DPR) is 10.98%.
Several analysts have recently weighed in on the company. Morgan Stanley downgraded Fortive Corporation from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $61.00 to $65.00 in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday, April 12th. J P Morgan Chase & Co raised Fortive Corporation from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $56.00 to $66.00 in a report on Friday, March 24th. Royal Bank Of Canada assumed coverage on Fortive Corporation in a report on Thursday, March 23rd. They issued a “sector perform” rating and a $63.00 target price for the company. Finally, Cowen and Company boosted their target price on Fortive Corporation from $46.00 to $52.00 and gave the company a “market perform” rating in a report on Wednesday, April 19th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $59.14.
In other Fortive Corporation news, insider James A. Lico sold 131,994 shares of Fortive Corporation stock in a transaction that occurred 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 transaction, the insider now owns 191,101 shares in the company, valued at $11,913,236.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Emily A. Weaver sold 3,749 shares of Fortive Corporation stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total transaction of $233,450.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,385 shares of company stock worth $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.
Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Corporation (NYSE:FTV).
Receive News & Ratings for Fortive Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive Corporation and related companies with MarketBeat.com's FREE daily email newsletter.