Beaumont Financial Partners LLC trimmed its holdings in shares of Fortive Corporation (NYSE:FTV) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,515 shares of the technology company’s stock after selling 909 shares during the quarter. Beaumont Financial Partners LLC’s holdings in Fortive Corporation were worth $4,784,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in FTV. Spot Trading L.L.C. purchased a new stake in shares of Fortive Corporation during the first quarter worth about $637,000. Pictet Asset Management Ltd. increased its position in shares of Fortive Corporation by 13.0% during the first quarter. Pictet Asset Management Ltd. now owns 372,692 shares of the technology company’s stock worth $22,444,000 after acquiring an additional 42,859 shares during the last quarter. Busey Trust CO increased its position in shares of Fortive Corporation by 2.0% during the first quarter. Busey Trust CO now owns 91,534 shares of the technology company’s stock worth $5,512,000 after acquiring an additional 1,795 shares during the last quarter. MUFG Americas Holdings Corp increased its holdings in Fortive Corporation by 2.6% in the first quarter. MUFG Americas Holdings Corp now owns 148,348 shares of the technology company’s stock valued at $8,933,000 after buying an additional 3,780 shares during the last quarter. Finally, LS Investment Advisors LLC increased its holdings in Fortive Corporation by 1.4% in the first quarter. LS Investment Advisors LLC now owns 87,151 shares of the technology company’s stock valued at $5,248,000 after buying an additional 1,196 shares during the last quarter. 78.59% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on the company. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Tuesday. Royal Bank Of Canada reissued a “hold” rating and issued a $66.00 price objective on shares of Fortive Corporation in a report on Friday. Stifel Nicolaus reissued a “hold” rating and issued a $62.00 price objective on shares of Fortive Corporation in a report on Sunday, July 30th. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $62.45.
In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.10% of the stock is currently owned by corporate insiders.
Shares of Fortive Corporation (NYSE FTV) traded down 0.13% during trading on Tuesday, hitting $70.22. The stock had a trading volume of 298,515 shares. The stock has a market cap of $24.37 billion, a price-to-earnings ratio of 27.66 and a beta of 0.27. Fortive Corporation has a one year low of $46.81 and a one year high of $70.48. The stock’s 50-day moving average price is $68.82 and its 200 day moving average price is $67.38.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. On average, equities analysts forecast 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. Shareholders of record on Friday, August 25th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.28 annualized dividend and a yield of 0.40%. Fortive Corporation’s dividend payout ratio is 11.02%.
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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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