Pinnacle Financial Partners Inc. raised its position in Fortive Corp (NYSE:FTV) by 9.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,364 shares of the technology company’s stock after buying an additional 390 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Fortive Corp were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FTV. Crestwood Advisors Group LLC acquired a new stake in Fortive Corp during the first quarter worth $102,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in Fortive Corp by 20.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,800 shares of the technology company’s stock worth $108,000 after buying an additional 300 shares during the period. Quadrant Capital Group LLC raised its stake in Fortive Corp by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock worth $112,000 after buying an additional 7 shares during the period. Israel Discount Bank of New York GFN acquired a new stake in Fortive Corp during the fourth quarter worth $124,000. Finally, Ledyard National Bank raised its stake in Fortive Corp by 10.6% in the first quarter. Ledyard National Bank now owns 2,373 shares of the technology company’s stock worth $143,000 after buying an additional 227 shares during the period. 77.18% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Fortive Corp (NYSE:FTV)

Fortive Corp (NYSE:FTV) traded up 1.218% during trading on Friday, hitting $61.905. 838,393 shares of the stock traded hands. Fortive Corp has a 12 month low of $43.00 and a 12 month high of $64.27. The company has a market cap of $21.46 billion and a P/E ratio of 24.286. The company’s 50 day moving average price is $61.43 and its 200 day moving average price is $57.06.

Fortive Corp (NYSE:FTV) last posted its earnings results on Thursday, April 27th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Fortive Corp’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. On average, equities research analysts anticipate that Fortive Corp will post $2.75 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, May 26th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, May 24th.

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A number of analysts recently weighed in on FTV shares. Zacks Investment Research raised shares of Fortive Corp from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Wednesday, April 12th. SunTrust Banks, Inc. upgraded shares of Fortive Corp from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Wednesday, March 29th. Barclays PLC set a $66.00 target price on shares of Fortive Corp and gave the stock a “buy” rating in a report on Sunday, April 30th. Morgan Stanley downgraded shares of Fortive Corp from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $61.00 to $65.00 in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, William Blair reiterated a “market perform” rating on shares of Fortive Corp in a report on Tuesday, February 7th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Fortive Corp has an average rating of “Hold” and a consensus price target of $59.14.

In other Fortive Corp news, insider James A. Lico sold 131,994 shares of Fortive Corp stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $62.34, for a total transaction of $8,228,505.96. Following the transaction, the insider now owns 191,101 shares of the company’s stock, valued at $11,913,236.34. The transaction was disclosed in a filing with the SEC, which is available at this link.

Fortive Corp 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.

5 Day Chart for NYSE:FTV

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