Fortive Corporation (FTV) Stake Maintained by Tradewinds Capital Management LLC
Tradewinds Capital Management LLC maintained its position in shares of Fortive Corporation (NYSE:FTV) during the second quarter, Holdings Channel reports. The institutional investor owned 2,714 shares of the technology company’s stock at the end of the second quarter. Tradewinds Capital Management LLC’s holdings in Fortive Corporation were worth $172,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Fortive Corporation by 2,497.9% in the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock valued at $996,902,000 after buying an additional 15,917,140 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of 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 valued at $167,275,000 after buying an additional 2,636,422 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Fortive Corporation during the first quarter valued at approximately $115,464,000. Marshall Wace North America L.P. purchased a new position in shares of Fortive Corporation during the first quarter valued at approximately $115,464,000. Finally, Prudential Financial Inc. boosted its position in shares of Fortive Corporation by 109.8% in the first quarter. Prudential Financial Inc. now owns 2,160,610 shares of the technology company’s stock valued at $130,112,000 after buying an additional 1,130,600 shares during the last quarter. Institutional investors own 79.85% of the company’s stock.
Shares of Fortive Corporation (NYSE FTV) opened at 66.82 on Thursday. Fortive Corporation has a 52-week low of $46.81 and a 52-week high of $67.48. The stock has a 50 day moving average of $64.35 and a 200-day moving average of $61.13. The stock has a market capitalization of $23.19 billion, a price-to-earnings ratio of 26.32 and a beta of 0.23.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $1.61 billion. During the same period in the previous year, the firm earned $0.64 EPS. Fortive Corporation’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Fortive Corporation will post $2.79 EPS for the current fiscal 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 $0.07 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.42%. Fortive Corporation’s dividend payout ratio is presently 11.02%.
FTV has been the subject of several recent analyst reports. Morgan Stanley cut shares of Fortive Corporation from an “overweight” rating to an “equal weight” rating and raised 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. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Wednesday, April 12th. Cowen and Company raised their target price on shares of Fortive Corporation from $46.00 to $52.00 and gave the stock a “market perform” rating in a report on Wednesday, April 19th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a report on Sunday, July 30th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $61.82.
In related news, VP Raj Ratnakar sold 11,642 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total value of $725,413.02. Following the completion of the transaction, the vice president now directly owns 5,020 shares in the company, valued at approximately $312,796.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Emily A. Weaver sold 3,749 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by 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.
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