Nisa Investment Advisors LLC reduced its stake in shares of Fortive Corp (NYSE:FTV) by 1.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 99,755 shares of the technology company’s stock after selling 1,880 shares during the period. Nisa Investment Advisors LLC’s holdings in Fortive were worth $6,839,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Fortive by 2.2% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 37,227 shares of the technology company’s stock worth $2,552,000 after acquiring an additional 809 shares during the last quarter. Advisor Partners LLC lifted its holdings in shares of Fortive by 5.6% during the 3rd quarter. Advisor Partners LLC now owns 8,024 shares of the technology company’s stock worth $550,000 after acquiring an additional 429 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Fortive by 11.6% during the 3rd quarter. DAVENPORT & Co LLC now owns 6,236 shares of the technology company’s stock worth $508,000 after acquiring an additional 650 shares during the last quarter. Douglas Lane & Associates LLC lifted its holdings in shares of Fortive by 6.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 532,791 shares of the technology company’s stock worth $36,528,000 after acquiring an additional 33,278 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Fortive during the 3rd quarter worth $1,128,000. 82.65% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on FTV shares. Gordon Haskett downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Zacks Investment Research raised shares of Fortive from a “sell” rating to a “hold” rating and set a $72.00 price target for the company in a research note on Tuesday, October 1st. Morgan Stanley lowered their price target on shares of Fortive from $85.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Bank of America lowered their price target on shares of Fortive from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Finally, Barclays lowered their price target on shares of Fortive from $89.00 to $84.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Fortive has an average rating of “Hold” and an average price target of $79.25.
Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, equities analysts expect that Fortive Corp will post 3.47 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.39%. The ex-dividend date was Thursday, August 29th. Fortive’s dividend payout ratio is presently 9.15%.
In other news, SVP Stacey A. Walker sold 34,446 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the completion of the transaction, the senior vice president now directly owns 20,015 shares of the company’s stock, valued at $1,415,060.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.70% of the company’s stock.
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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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