BNP Paribas Arbitrage SA increased its holdings in shares of Fortive Corporation (NYSE:FTV) by 54.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,631 shares of the technology company’s stock after purchasing an additional 66,280 shares during the period. BNP Paribas Arbitrage SA owned 0.05% of Fortive Corporation worth $13,282,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. BDO Wealth Advisors LLC acquired a new stake in Fortive Corporation during the 2nd quarter worth $128,000. Westwood Holdings Group Inc. acquired a new stake in Fortive Corporation during the 2nd quarter worth $139,000. Sun Life Financial INC boosted its stake in Fortive Corporation by 21,940.0% during the 2nd quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,194 shares during the period. CENTRAL TRUST Co boosted its stake in Fortive Corporation by 1.0% during the 2nd quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after purchasing an additional 23 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in Fortive Corporation during the 2nd quarter worth $147,000. Hedge funds and other institutional investors own 79.13% of the company’s stock.
Shares of Fortive Corporation (FTV) opened at $72.60 on Tuesday. Fortive Corporation has a 52 week low of $52.99 and a 52 week high of $74.38. The company has a market cap of $25,250.16, a price-to-earnings ratio of 26.32, a PEG ratio of 2.51 and a beta of 0.37. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06.
Fortive Corporation (NYSE:FTV) last released its earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the business earned $0.65 EPS. The business’s revenue was up 7.4% on a year-over-year basis. equities research analysts expect that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive Corporation’s dividend payout ratio (DPR) is presently 10.57%.
In other news, SVP Stacey A. Walker sold 4,775 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James A. Lico sold 50,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the transaction, the insider now owns 166,014 shares of the company’s stock, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.
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A number of brokerages recently weighed in on FTV. Stifel Nicolaus reiterated a “hold” rating and set a $62.00 price target on shares of Fortive Corporation in a research note on Sunday, July 30th. Royal Bank Of Canada reiterated a “hold” rating and set a $66.00 price target on shares of Fortive Corporation in a research note on Friday, September 15th. Zacks Investment Research cut shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Citigroup Inc. reiterated a “neutral” rating and set a $72.00 price target (up previously from $65.00) on shares of Fortive Corporation in a research note on Monday, October 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $72.00 price target (up previously from $71.00) on shares of Fortive Corporation in a research note on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Fortive Corporation presently has a consensus rating of “Hold” and an average price target of $69.10.
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.
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