Resources Management Corp CT ADV acquired a new position in Fortive Corp (NYSE:FTV) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 29,760 shares of the technology company’s stock, valued at approximately $2,040,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Rational Advisors LLC purchased a new stake in shares of Fortive during the 2nd quarter valued at about $33,000. Kavar Capital Partners LLC bought a new position in Fortive during the second quarter valued at $37,000. Compagnie Lombard Odier SCmA bought a new position in Fortive during the second quarter valued at $41,000. Kings Point Capital Management purchased a new stake in shares of Fortive in the second quarter valued at $41,000. Finally, CSat Investment Advisory L.P. raised its stake in shares of Fortive by 342.8% in the second quarter. CSat Investment Advisory L.P. now owns 673 shares of the technology company’s stock valued at $55,000 after acquiring an additional 521 shares during the period. 82.85% of the stock is currently owned by institutional investors and hedge funds.
In other Fortive news, SVP Martin Gafinowitz sold 18,543 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $72.41, for a total value of $1,342,698.63. Following the completion of the transaction, the senior vice president now directly owns 101,169 shares in the company, valued at $7,325,647.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.70% of the company’s stock.
Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, October 24th. The technology company reported $0.87 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.87. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortive had a net margin of 37.57% and a return on equity of 17.41%. Fortive’s revenue was up 16.2% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. As a group, equities analysts expect that Fortive Corp will post 3.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, November 27th. Fortive’s dividend payout ratio (DPR) is currently 9.15%.
FTV has been the topic of a number of recent analyst reports. Barclays reduced their price objective on shares of Fortive from $89.00 to $84.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. began coverage on Fortive in a research report on Friday, November 15th. They set a “neutral” rating and a $72.00 target price for the company. Royal Bank of Canada set a $73.00 target price on Fortive and gave the company a “hold” rating in a research note on Friday, October 25th. Credit Suisse Group increased their price target on Fortive from $73.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Citigroup decreased their price target on Fortive from $86.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $77.92.
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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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