Moreno Evelyn V reduced its holdings in Fortive Corp (NYSE:FTV) by 44.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,550 shares of the technology company’s stock after selling 2,823 shares during the period. Moreno Evelyn V’s holdings in Fortive were worth $299,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the business. Bank of America Corp DE boosted its stake in shares of Fortive by 2.9% during the 2nd quarter. Bank of America Corp DE now owns 2,913,140 shares of the technology company’s stock worth $224,633,000 after purchasing an additional 83,258 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Fortive during the 2nd quarter worth about $275,000. Zurich Insurance Group Ltd FI boosted its stake in shares of Fortive by 6.2% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 83,057 shares of the technology company’s stock worth $6,405,000 after purchasing an additional 4,854 shares during the period. Standard Life Aberdeen plc boosted its stake in shares of Fortive by 30.3% during the 2nd quarter. Standard Life Aberdeen plc now owns 75,527 shares of the technology company’s stock worth $5,824,000 after purchasing an additional 17,545 shares during the period. Finally, Richard Bernstein Advisors LLC boosted its stake in shares of Fortive by 18.8% during the 2nd quarter. Richard Bernstein Advisors LLC now owns 51,906 shares of the technology company’s stock worth $4,002,000 after purchasing an additional 8,207 shares during the period. 81.51% of the stock is owned by institutional investors and hedge funds.
In related news, insider William W. Pringle sold 440 shares of Fortive stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $79.38, for a total transaction of $34,927.20. Following the completion of the sale, the insider now owns 20,626 shares in the company, valued at approximately $1,637,291.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Raj Ratnakar sold 30,912 shares of Fortive stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $80.71, for a total transaction of $2,494,907.52. Following the sale, the vice president now owns 13,244 shares of the company’s stock, valued at approximately $1,068,923.24. The disclosure for this sale can be found here. Insiders have sold a total of 74,602 shares of company stock valued at $6,047,572 in the last quarter. 12.20% of the stock is currently owned by company insiders.
FTV traded down $1.60 on Tuesday, reaching $76.09. 157,182 shares of the company traded hands, compared to its average volume of 8,856,980. Fortive Corp has a one year low of $69.03 and a one year high of $88.34. The firm has a market capitalization of $27.86 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.92 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.96 and a quick ratio of 1.68.
Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, July 26th. The technology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Fortive had a net margin of 16.38% and a return on equity of 27.22%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business posted $0.71 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities analysts anticipate that Fortive Corp will post 3.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, August 31st were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.37%. Fortive’s payout ratio is 9.69%.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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