Fortive Corporation (NYSE:FTV)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $67.81 and last traded at $67.75, with a volume of 405,666 shares traded. The stock had previously closed at $67.52.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Monday, July 24th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Morgan Stanley restated an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Royal Bank Of Canada restated a “sector perform” rating and issued a $66.00 price objective (up from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a report on Sunday, July 30th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Fortive Corporation has an average rating of “Hold” and a consensus target price of $61.82.
The company has a market cap of $23.51 billion, a price-to-earnings ratio of 26.68 and a beta of 0.27. The company’s 50 day moving average is $65.18 and its 200 day moving average is $62.47.
Fortive Corporation (NYSE:FTV) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Analysts predict that Fortive Corporation will post $2.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, August 25th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.41%. Fortive Corporation’s dividend payout ratio is presently 11.02%.
In related news, CFO Charles E. Mclaughlin sold 6,565 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $66.09, for a total transaction of $433,880.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 12.10% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hikari Tsushin Inc. lifted its position in shares of Fortive Corporation by 70.9% during the 2nd quarter. Hikari Tsushin Inc. now owns 51,117 shares of the technology company’s stock worth $3,238,000 after purchasing an additional 21,200 shares during the last quarter. Griffin Asset Management Inc. acquired a new position in shares of Fortive Corporation during the 2nd quarter worth about $1,297,000. Lord Abbett & CO. LLC acquired a new position in shares of Fortive Corporation during the 2nd quarter worth about $17,098,000. J.P. Marvel Investment Advisors LLC lifted its position in shares of Fortive Corporation by 0.5% during the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 16,785 shares of the technology company’s stock worth $1,063,000 after purchasing an additional 90 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Fortive Corporation by 24.5% during the 2nd quarter. Toronto Dominion Bank now owns 104,177 shares of the technology company’s stock worth $6,598,000 after purchasing an additional 20,519 shares during the last quarter. 78.70% of the stock is owned by institutional investors and hedge funds.
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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