Mandatum Life Insurance Co Ltd purchased a new stake in shares of Fortive Corp (NYSE:FTV) during the fourth quarter, Holdings Channel.com reports. The firm purchased 2,753 shares of the technology company’s stock, valued at approximately $210,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Waratah Capital Advisors Ltd. acquired a new stake in Fortive in the third quarter valued at $1,574,000. MAI Capital Management lifted its stake in Fortive by 21.4% in the third quarter. MAI Capital Management now owns 8,198 shares of the technology company’s stock valued at $562,000 after acquiring an additional 1,445 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in Fortive by 72.4% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 19,407 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 8,150 shares during the last quarter. Employers Holdings Inc. lifted its stake in Fortive by 100.0% in the third quarter. Employers Holdings Inc. now owns 34,040 shares of the technology company’s stock valued at $2,554,000 after acquiring an additional 17,020 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Fortive by 2.9% in the third quarter. CIBC Asset Management Inc now owns 42,170 shares of the technology company’s stock valued at $2,891,000 after acquiring an additional 1,205 shares during the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.
In related news, SVP Stacey A. Walker sold 1,754 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $73.77, for a total transaction of $129,392.58. Following the transaction, the senior vice president now directly owns 28,705 shares of the company’s stock, valued at $2,117,567.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Christopher M. Mulhall sold 2,702 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $78.46, for a total transaction of $211,998.92. Following the transaction, the chief accounting officer now directly owns 7,088 shares in the company, valued at $556,124.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,089 shares of company stock worth $11,074,434. 12.70% of the stock is owned by insiders.
NYSE:FTV traded down $1.13 during mid-day trading on Friday, reaching $69.16. 3,770,911 shares of the company’s stock were exchanged, compared to its average volume of 1,851,881. Fortive Corp has a one year low of $63.51 and a one year high of $89.48. The firm has a market capitalization of $23.76 billion, a PE ratio of 35.11 and a beta of 1.22. The business’s fifty day simple moving average is $76.69 and its two-hundred day simple moving average is $72.54. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 1.06.
Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, February 6th. The technology company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. Fortive had a net margin of 10.09% and a return on equity of 17.53%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the firm earned $0.91 earnings per share. Fortive’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, equities research analysts forecast that Fortive Corp will post 3.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 28th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Thursday, February 27th. Fortive’s dividend payout ratio is 8.05%.
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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