Barclays PLC lessened its stake in Fortive Co. (NYSE:FTV) by 1.9% in the third quarter, Holdings Channel reports. The firm owned 525,924 shares of the technology company’s stock after selling 9,991 shares during the quarter. Barclays PLC’s holdings in Fortive were worth $37,114,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. NEXT Financial Group Inc raised its stake in Fortive by 105.3% in the third quarter. NEXT Financial Group Inc now owns 390 shares of the technology company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Fortive by 61.1% in the third quarter. Parkside Financial Bank & Trust now owns 485 shares of the technology company’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Fortive in the second quarter valued at about $60,000. First Horizon Advisors Inc. raised its stake in Fortive by 4,347.8% in the third quarter. First Horizon Advisors Inc. now owns 1,023 shares of the technology company’s stock valued at $54,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Boit C F David acquired a new position in Fortive in the second quarter valued at about $73,000. 93.82% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Barbara B. Hulit sold 16,799 shares of Fortive stock in a transaction that occurred on Tuesday, November 30th. The stock was sold at an average price of $76.18, for a total value of $1,279,747.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Peter C. Underwood sold 6,575 shares of the business’s stock in a transaction that occurred on Wednesday, November 3rd. The shares were sold at an average price of $76.99, for a total value of $506,209.25. The disclosure for this sale can be found here. 4.40% of the stock is owned by insiders.
Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, October 28th. The technology company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Fortive had a return on equity of 10.53% and a net margin of 31.85%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 earnings per share. As a group, equities analysts forecast that Fortive Co. will post 2.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 30th. Investors of record on Friday, November 26th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Wednesday, November 24th. Fortive’s dividend payout ratio is currently 6.17%.
A number of research analysts recently commented on the company. Vertical Research downgraded Fortive from a “buy” rating to a “hold” rating and set a $82.00 price target for the company. in a research note on Monday, January 3rd. Credit Suisse Group lifted their target price on Fortive from $84.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, October 29th. Mizuho assumed coverage on Fortive in a research report on Thursday, December 16th. They issued a “neutral” rating and a $82.00 target price on the stock. Morgan Stanley lifted their target price on Fortive from $78.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 29th. Finally, Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Tuesday, September 21st. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $80.31.
Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.
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