BB&T Investment Services Inc. acquired a new stake in Fortive Corporation (NYSE:FTV) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,459 shares of the technology company’s stock, valued at approximately $157,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTV. Jacobi Capital Management LLC increased its holdings in Fortive Corporation by 25.5% in the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock valued at $104,000 after buying an additional 350 shares in the last quarter. BDO Wealth Advisors LLC purchased a new position in Fortive Corporation in the second quarter valued at $128,000. Sun Life Financial INC increased its holdings in Fortive Corporation by 21,940.0% in the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock valued at $140,000 after buying an additional 2,194 shares in the last quarter. CENTRAL TRUST Co increased its holdings in Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after buying an additional 23 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in Fortive Corporation in the second quarter valued at $147,000. 78.59% of the stock is owned by institutional investors.
In other news, CFO Charles E. Mclaughlin sold 6,565 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.10% of the company’s stock.
Shares of Fortive Corporation (NYSE:FTV) traded down 0.26% during mid-day trading on Friday, hitting $72.70. 120,301 shares of the stock traded hands. The firm’s 50 day moving average price is $70.30 and its 200 day moving average price is $70.30. The firm has a market cap of $25.23 billion, a price-to-earnings ratio of 28.63 and a beta of 0.39. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $73.21.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. On average, equities research analysts predict that Fortive Corporation will post $2.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, August 25th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. Fortive Corporation’s dividend payout ratio is presently 11.02%.
A number of research analysts have weighed in on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $62.00 price objective on shares of Fortive Corporation in a report on Sunday, July 30th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $66.00 price objective on shares of Fortive Corporation in a report on Friday, September 15th. Zacks Investment Research cut shares of Fortive Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $72.00 price objective (up previously from $65.00) on shares of Fortive Corporation in a report on Monday. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $66.50.
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About Fortive Corporation
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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