Fortive Corporation (FTV) Position Reduced by TD Asset Management Inc.
TD Asset Management Inc. reduced its position in shares of Fortive Corporation (NYSE:FTV) by 3.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 528,928 shares of the technology company’s stock after selling 21,598 shares during the period. TD Asset Management Inc.’s holdings in Fortive Corporation were worth $33,508,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Fortive Corporation by 2,497.9% in the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock worth $996,902,000 after buying an additional 15,917,140 shares in the last quarter. Bessemer Group Inc. boosted its stake in Fortive Corporation by 64,460.2% in the second quarter. Bessemer Group Inc. now owns 2,640,512 shares of the technology company’s stock worth $167,275,000 after buying an additional 2,636,422 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in Fortive Corporation during the first quarter worth about $115,464,000. Marshall Wace North America L.P. bought a new stake in Fortive Corporation during the first quarter worth about $115,464,000. Finally, Prudential Financial Inc. boosted its stake in Fortive Corporation by 109.8% in the first quarter. Prudential Financial Inc. now owns 2,160,610 shares of the technology company’s stock worth $130,112,000 after buying an additional 1,130,600 shares in the last quarter. Hedge funds and other institutional investors own 79.85% of the company’s stock.
Shares of Fortive Corporation (FTV) opened at 66.82 on Thursday. The firm has a 50-day moving average of $64.35 and a 200 day moving average of $61.13. Fortive Corporation has a 52 week low of $46.81 and a 52 week high of $67.48. The firm has a market cap of $23.19 billion, a PE ratio of 26.32 and a beta of 0.23.
Fortive Corporation (NYSE:FTV) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. Equities research analysts predict that Fortive Corporation will post $2.79 EPS for the current fiscal year.
The business also recently declared 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 yield of 0.42%. Fortive Corporation’s payout ratio is currently 11.02%.
TRADEMARK VIOLATION NOTICE: This report was reported by Daily Political and is owned by of Daily Political. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/08/10/fortive-corporation-ftv-position-reduced-by-td-asset-management-inc.html.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Monday, July 24th. Barclays PLC set a $66.00 target price on shares of Fortive Corporation and gave the stock a “buy” rating in a research note on Sunday, April 30th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Morgan Stanley restated an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $66.00 target price (up previously from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $61.82.
In other Fortive Corporation news, VP Emily A. Weaver sold 3,749 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total transaction of $233,450.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Raj Ratnakar sold 11,642 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $62.31, for a total transaction of $725,413.02. Following the sale, the vice president now directly owns 5,020 shares in the company, valued at $312,796.20. The disclosure for this sale can be found here. 12.10% of the stock is owned by corporate insiders.
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.
Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Corporation (NYSE:FTV).
Receive News & Ratings for Fortive Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive Corporation and related companies with MarketBeat.com's FREE daily email newsletter.