Nippon Life Global Investors Americas Inc. bought a new position in shares of Fortive Corporation (NYSE:FTV) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 150,740 shares of the technology company’s stock, valued at approximately $9,549,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FTV. Crestwood Advisors Group LLC acquired a new position in Fortive Corporation during the first quarter worth about $102,000. Jacobi Capital Management LLC boosted its position 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 worth $104,000 after buying an additional 350 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in Fortive Corporation by 20.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,800 shares of the technology company’s stock valued at $108,000 after buying an additional 300 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Fortive Corporation by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock valued at $112,000 after buying an additional 7 shares in the last quarter. Finally, First Personal Financial Services boosted its position in Fortive Corporation by 17.3% in the first quarter. First Personal Financial Services now owns 2,372 shares of the technology company’s stock valued at $142,000 after buying an additional 350 shares in the last quarter. 79.85% of the stock is owned by hedge funds and other institutional investors.

Fortive Corporation (NYSE:FTV) opened at 65.60 on Friday. Fortive Corporation has a 52-week low of $46.81 and a 52-week high of $67.48. The stock’s 50 day moving average price is $64.42 and its 200 day moving average price is $61.24. The firm has a market capitalization of $22.77 billion, a PE ratio of 25.84 and a beta of 0.23.

Fortive Corporation (NYSE:FTV) last issued its earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates 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 company posted $0.64 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Fortive Corporation will post $2.79 EPS for the current fiscal year.

The company also recently announced 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. This represents a $0.28 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Wednesday, August 23rd. Fortive Corporation’s payout ratio is 11.02%.

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Several research firms have recently weighed in on FTV. Stifel Nicolaus reaffirmed a “hold” rating and set a $62.00 price objective on shares of Fortive Corporation in a research report on Sunday, July 30th. Cowen and Company upped their price objective on Fortive Corporation from $46.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 19th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Fortive Corporation in a research report on Monday, May 22nd. Finally, Barclays PLC set a $66.00 price objective on Fortive Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $61.82.

In other Fortive Corporation news, VP Emily A. Weaver sold 3,749 shares of Fortive Corporation stock in a transaction dated Wednesday, May 31st. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. Also, VP Raj Ratnakar sold 11,642 shares of Fortive Corporation stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $62.31, for a total value of $725,413.02. Following the transaction, the vice president now owns 5,020 shares of the company’s stock, valued at approximately $312,796.20. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.

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

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