Pacer Advisors Inc. grew its holdings in Fortive Co. (NYSE: FTV – Get Rating) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,508 shares of the technology company stock after purchasing an additional 569 shares during the period. Pacer Advisors Inc.’s holdings in Fortive were worth $ 1,432,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of FTV. LPL Financial LLC increased its stake in shares of Fortive by 44.4% in the third quarter. LPL Financial LLC now owns 44,201 shares of the technology company stock worth $ 3,119,000 after acquiring an additional 13,589 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Fortive by 9.3% in the third quarter. Janus Henderson Group PLC now owns 67,163 shares of the technology company stock worth $ 4,739,000 after acquiring an additional 5,705 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of Fortive by 2.0% in the third quarter. Captrust Financial Advisors now owns 12,456 shares of the technology company stock worth $ 879,000 after acquiring an additional 240 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in Fortive by 130.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 24,916 shares of the technology company stock worth $ 1,758,000 after buying an additional 14,116 shares during the last quarter. Finally, Gyon Technologies Capital Management LP acquired a new position in Fortive during the third quarter worth $ 1,636,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. Morgan Stanley lowered their target price on shares of Fortive from $ 67.00 to $ 64.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 31st. Cowen lowered their target price on shares of Fortive from $ 80.00 to $ 70.00 and set a “market perform” rating on the stock in a research report on Thursday, June 2nd. Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $ 68.00 target price on the stock in a research report on Thursday, March 17th. StockNews.com initiated coverage on Fortive in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Barclays raised Fortive from an “equal weight” rating to an “overweight” rating and set a $ 75.00 price target on the stock in a research report on Monday, March 14th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $ 79.27.
NYSE FTV opened at $ 56.28 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.74 and a current ratio of 0.96. The firm has a 50-day simple moving average of $ 58.80 and a 200 day simple moving average of $ 63.83. Fortive Co. has a twelve month low of $ 53.05 and a twelve month high of $ 79.87. The stock has a market cap of $ 20.17 billion, a PE ratio of 31.27, a PEG ratio of 1.72 and a beta of 1.10.
Fortive (NYSE: FTV – Get Rating) last released its earnings results on Thursday, April 28th. The technology company reported $ 0.70 earnings per share for the quarter, beating the consensus estimate of $ 0.68 by $ 0.02. The business had revenue of $ 1.38 billion during the quarter, compared to analysts’ expectations of $ 1.35 billion. Fortive had a net margin of 12.32% and a return on equity of 10.87%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $ 0.63 earnings per share. Research analysts forecast that Fortive Co. will post 3.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, May 27th were paid a dividend of $ 0.07 per share. This represents a $ 0.28 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Thursday, May 26th. Fortive’s dividend payout ratio is 15.56%.
In other Fortive news, Director Alan G. Spoon purchased 17,400 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was purchased at an average price of $ 58.25 per share, for a total transaction of $ 1,013,550.00. Following the completion of the purchase, the director now directly owns 98,861 shares in the company, valued at $ 5,758,653.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.40% of the stock is owned by company insiders.
Fortive Company Profile: (Get Rating)
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.
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