Moody National Bank Trust Division decreased its stake in Fortive Co. (NYSE: FTV – Get Rating) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,302 shares of the technology company stock after selling 1,393 shares during the period. Moody National Bank Trust Division’s holdings in Fortive were worth $ 628,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of FTV. LPL Financial LLC lifted its stake in Fortive by 44.4% in the 3rd quarter. LPL Financial LLC now owns 44,201 shares of the technology company stock valued at $ 3,119,000 after purchasing an additional 13,589 shares during the last quarter. United Capital Financial Advisers LLC lifted its stake in Fortive by 11.3% in the 3rd quarter. United Capital Financial Advisers LLC now owns 15,003 shares of the technology company stock valued at $ 1,059,000 after purchasing an additional 1,529 shares during the last quarter. Toroso Investments LLC lifted its stake in Fortive by 28.7% in the 3rd quarter. Toroso Investments LLC now owns 5,125 shares of the technology company stock valued at $ 362,000 after purchasing an additional 1,144 shares during the last quarter. National Asset Management Inc. lifted its stake in Fortive by 98.4% in the 3rd quarter. National Asset Management Inc. now owns 11,262 shares of the technology company stock valued at $ 795,000 after purchasing an additional 5,585 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Fortive by 9.3% in the 3rd quarter. Janus Henderson Group PLC now owns 67,163 shares of the technology company stock valued at $ 4,739,000 after purchasing an additional 5,705 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.
Shares of Fortive stock opened at $ 54.77 on Friday. Fortive Co. has a one year low of $ 53.05 and a one year high of $ 79.87. 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 company has a market capitalization of $ 19.63 billion, a PE ratio of 30.43, a P / E / G ratio of 1.70 and a beta of 1.10. The company has a 50-day simple moving average of $ 58.84 and a two-hundred day simple moving average of $ 64.04.
Fortive (NYSE: FTV – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The technology company reported $ 0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.68 by $ 0.02. Fortive had a net margin of 12.32% and a return on equity of 10.87%. The firm had revenue of $ 1.38 billion for the quarter, compared to the estimate consensus of $ 1.35 billion. During the same quarter in the prior year, the company posted $ 0.63 earnings per share. The company revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities analysts predict that Fortive Co. will post 3.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, May 27th will be given a $ 0.07 dividend. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $ 0.28 dividend on an annualized basis and a yield of 0.51%. Fortive’s dividend payout ratio is currently 15.56%.
In other news, Director Alan G. Spoon bought 17,400 shares of the company stock in a transaction that occurred on Monday, May 2nd. The shares were purchased at an average price of $ 58.25 per share, for a total transaction of $ 1,013,550.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this link. 4.40% of the stock is owned by corporate insiders.
Several brokerages have issued reports on FTV. Cowen decreased their price target on shares of Fortive from $ 80.00 to $ 70.00 in a research report on Thursday, June 2nd. Morgan Stanley decreased their price objective on shares of Fortive from $ 67.00 to $ 64.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 31st. Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $ 68.00 target price for the company in a research note on Thursday, March 17th. Barclays raised shares of Fortive from an “equal weight” rating to an “overweight” rating and set a $ 75.00 price target for the company in a research note on Monday, March 14th. Finally, Cowen reduced their price target on shares of Fortive from $ 80.00 to $ 70.00 and set a “market perform” rating for the company in a report on Thursday, June 2nd. 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 stock currently has an average rating of “Hold” and an average target price of $ 79.27.
About Fortive: (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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