Daiwa Securities Group Inc. reduced its position in Fortive Corporation (NYSE:FTV) by 21.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,302 shares of the technology company’s stock after selling 8,849 shares during the period. Daiwa Securities Group Inc.’s holdings in Fortive Corporation were worth $2,109,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its position in Fortive Corporation by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock worth $112,000 after buying an additional 7 shares during the last quarter. CENTRAL TRUST Co raised its position in Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after buying an additional 23 shares during the last quarter. Advisor Partners LLC raised its position in Fortive Corporation by 0.7% in the first quarter. Advisor Partners LLC now owns 7,150 shares of the technology company’s stock worth $431,000 after buying an additional 51 shares during the last quarter. Atria Investments LLC raised its position in Fortive Corporation by 1.4% in the second quarter. Atria Investments LLC now owns 4,570 shares of the technology company’s stock worth $289,000 after buying an additional 61 shares during the last quarter. Finally, ING Groep NV raised its position in Fortive Corporation by 0.6% in the second quarter. ING Groep NV now owns 15,448 shares of the technology company’s stock worth $979,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 78.55% of the company’s stock.
Shares of Fortive Corporation (NYSE:FTV) traded down 0.20% during midday trading on Friday, hitting $65.03. 963,478 shares of the stock traded hands. The company’s 50 day moving average price is $64.70 and its 200-day moving average price is $61.61. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $67.48. The stock has a market cap of $22.57 billion, a price-to-earnings ratio of 25.61 and a beta of 0.23.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. On average, equities research analysts expect that Fortive Corporation will post $2.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Fortive Corporation’s payout ratio is currently 11.02%.
A number of equities analysts recently weighed in on FTV shares. Barclays PLC set a $66.00 target price on shares of Fortive Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Morgan Stanley lowered shares of Fortive Corporation from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $61.00 to $65.00 in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fortive Corporation in a research report on Monday, May 22nd. Zacks Investment Research lowered shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Finally, Stifel Nicolaus restated a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a research report on Sunday, July 30th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $61.82.
In other news, VP Raj Ratnakar sold 11,642 shares of the company’s stock in a transaction that occurred 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 owns 5,020 shares in the company, valued at $312,796.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Emily A. Weaver sold 3,749 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. Insiders sold 21,956 shares of company stock valued at $1,392,744 over the last three months. Corporate insiders own 12.10% of the company’s stock.
About Fortive Corporation
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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