CIBC World Markets Inc. grew its stake in shares of Fortive Corporation (NYSE:FTV) by 27.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 256,327 shares of the technology company’s stock after buying an additional 55,329 shares during the period. CIBC World Markets Inc. owned 0.07% of Fortive Corporation worth $16,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its stake in shares of Fortive Corporation by 2.7% during the 1st quarter. FMR LLC now owns 21,506,167 shares of the technology company’s stock valued at $1,295,101,000 after buying an additional 574,042 shares during the period. Vanguard Group Inc. grew its stake in shares of Fortive Corporation by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 19,993,417 shares of the technology company’s stock valued at $1,204,004,000 after buying an additional 646,463 shares during the period. BlackRock Inc. grew its stake in shares of Fortive Corporation by 2,497.9% during the 1st 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 period. State Street Corp grew its stake in shares of Fortive Corporation by 1.4% during the 1st quarter. State Street Corp now owns 12,557,670 shares of the technology company’s stock valued at $756,215,000 after buying an additional 174,619 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in shares of Fortive Corporation by 25.5% during the 1st quarter. First Eagle Investment Management LLC now owns 4,718,316 shares of the technology company’s stock valued at $284,137,000 after buying an additional 957,431 shares during the period. 78.70% of the stock is owned by institutional investors.

In related news, CFO Charles E. Mclaughlin sold 6,565 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 12.10% of the company’s stock.

FTV has been the subject of several research reports. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Zacks Investment Research cut shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Stifel Nicolaus reissued a “hold” rating and set a $62.00 price objective on shares of Fortive Corporation in a research note on Sunday, July 30th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $66.00 price objective (up from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $61.82.

Shares of Fortive Corporation (NYSE FTV) traded up 1.07% during trading on Friday, reaching $66.27. 70,407 shares of the company’s stock were exchanged. The firm has a market capitalization of $23.00 billion, a P/E ratio of 26.10 and a beta of 0.27. The company has a 50 day moving average of $65.09 and a 200 day moving average of $62.44. Fortive Corporation has a 52-week low of $46.81 and a 52-week high of $67.48.

Fortive Corporation (NYSE:FTV) last posted its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the business posted $0.64 EPS. Fortive Corporation’s revenue was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Fortive Corporation will post $2.79 earnings per share 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 paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.43%. Fortive Corporation’s payout ratio is presently 11.02%.

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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.

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

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